There will be no PR in near term IMO. July 16th is still far away, and there is no reason to release anything at this time. (unless insiders are collaborated with the MMs to unload shares, then there will be a PR, follow by a large volume of 10M+ shares in one day. However, I don't think this is the case here).
Unlike ECNC where its stock was being pumped in many different ways. Tons of worthless PRs were pumped by insiders. ECNC was also pumped by a group of manipulators (Alpha Capital/Alliance Capital). And I am sure at least two MMs (the brokerage firm from Dallas who collaborated with the Canadians to pump ECNC and naked shorting during the debacle with the debentures, and the other MM who took ECNC off the pink) also have something to do with the price manipulation of ECNC. With ETCR, it seems to me that the run up was done by the MMs only as I had described from my previous post.
Judging from the trading patterns of ETCR today. I have to guess that the trading for ETCR will be exactly like the way you described from last year. It means that the stocks will take 2 steps forward, stall, and retreat one step backward. It will trade sideway or fall back a little for a day or two, then run up again to new high, stall, and retreat a little again. It will trade sideway to shake out the weaks, and continue to climb to another new high. Here is the pattern as I saw during this run up (very similar to the run up last July):
Date open high low close change volume
03/27/02 0.02 0.02 0.02 0.02 -0.00 244,000
03/28/02 0.02 0.04 0.02 0.04 +0.01 3,955,400 (stock begin to run here, caught MMs off guard, they may not or may not get any cheap shares yet)
04/01/02 0.04 0.04 0.03 0.04 -0.00 1,811,100 (retreat during the day and close at same price, stalling)
04/02/02 0.04 0.04 0.03 0.03 -0.00 1,570,900 (trade sideway and close lower for MMs to pick up cheap shares, another stalling day)
04/03/02 0.04 0.04 0.04 0.04 +0.01 624,800 (volume drop off, yet stock climb back to new high. This is an indication that the stock will run. New base and a new run here)
04/04/02 0.04 0.07 0.04 0.06 +0.02 1,068,400 (MMs have enough shares, now begin the run up and pumping)
04/05/02 0.07 0.10 0.06 0.09 +0.03 3,019,700 (stock made new high intraday, wild range intraday. MMs fill buys with old cheap shares and fill sells with shares they naked shorting from the idiots who bought at 10 cents)
04/08/02 0.09 0.18 0.09 0.16 +0.07 2,468,300 (the game continue here, except the intraday range get bigger, MMs raking in profit. Notice that the idiots who bought at yesterday high are no longer the idiots, because they are now participating with the MMs in the run up. The idiots of today are the one who bought at 18 cents, but he may not be an idiot tomorrow when there will be a new trading range. The last idiot is the one who get caught holding the bag when the MMs decide they no longer want to run the stock up, and will make money on naked shorting all the way back down to 2-4 cents)
In summary, if this stock trading pattern is similar to the way I described above, then this stock will trade sideway or retreat a little to 12 cents for a day or two. As long as it does not fall below 10 cents, it will run up again to new high of 20-22 cents. Stall again at that price or retreat back to 18 cents for a day or two, and continue the climb to higher base. There is a possibility that it can reach 30 cents. But that is hard to say at this time. I will take it day by day.
I stick by my opinion that the insiders are not yet in this pump. The MMs are in control here. You and me (including the supply and demand of this stock) have no control what-so-ever about the price movement, we are at the pity of the MMs, we take a risk tagging along for a ride, but the MMs can turn out the light at anytime and leave us holding the bag. Those who escape are the one who can see when the tide turn and get out with minimal damage.
Hope I make sense! |
