Thx, i'm glad your positions worked out for you, and good luck with speechworks.
my guess is that stock bounces off the 50 and 200 DMA's at $10, then heads right down to fill the gap at $6.70 from 10/15/01.
That stock put in lower lows in late sept. '01, so at best it should retest those lows before building a base and appreciating at a much slower rate in price, if it has any kind of future as a company, like it should.
That company has no earnings. Best of luck with that thing, but i think you'll give it all back soon enough, and then some, if you're not at least using mental stop loss orders.
In regards to the latest financing GMGC is doing. While i haven't bothered to read the filings in depth, I think those financing companies basically just get a big block of shares from General Magic, and they're paid a fee to distribute them.
What's to keep them from going out on the open market and buying shares of the common to generate volume,price, and consequently interest, then selling those same shares at a marked up price for a profit...along with the shares granted to them by GMGC, to the unsuspecting retail crowd?
Nothing. It's S.O.P.
Most mutual and pension funds, and institutions, are prohibited by fiduciary requirements from buying stock at these price levels.
i don't believe There is any intrigue or mystery shorting involved at these levels. This is a very small cap issue struggling to survive in a deadly business and market environment.
Do you know if the recent temporary listing requirements have been withdrawn on the Nasadaq? I believe they have been. If they have, i still maintain that this stock will be de-listed and go bankrupt, then get bought out by another company...maybe GM. Either that, or a reverse split to try to survive on the NASDAQ. Unless they get some sort of steady revenue stream, they will never be able to survive by selling stock on the OTCBB..or worse. |
