> Don, CYI price acting strangely. Back to 2 again. If the conference
> was positive and participants quite satisfied, it is a bit
> disconcerting that it dropped back to near bottom again. This is
> either close to the Mother of all Opportunity or a rather ominus
> sign that someone must think it's bail out time.
James and All : today's action on CYI is very suspicious. Everything
went 'okay' during the day, but things took a U-turn at 3pm
Since 3pm there has been someone who is DUMPING their shares at the
market. Over 40,000 shares have been sold during the day. Around
30,000 shares have been sold ONLY during the last trading hour.
--- day / time / tradeprice and volume or bid and ask
20 - 14:59 ba A 2 1/16 P 2 3/16 1x5
20 - 14:59 A 2 12,000
20 - 14:59 ba M 2 P 2 3/16 66x5
20 - 14:59 ba M 2 P 2 3/16 66x5
20 - 14:59 P 2 5,000
20 - 14:59 P 2 5,000
20 - 15:04 A 2 4,000
20 - 15:04 Q 2 200
20 - 15:07 A 2 1,000
20 - 15:13 ba M 2 A 2 3/16 66x5
20 - 15:18 ba M 2 P 2 3/16 66x5
20 - 15:18 A 2 100
20 - 15:19 ba M 2 A 2 1/8 66x5
20 - 15:22 ba M 2 A 2 1/8 71x5
20 - 15:32 A 2 2,000
---
My marketmaker screens for CYI clearly indicate that supportlevel of
$2 has COMPLETELY vanished. (this morning aroung 23,000 shares - now
1,000) I have never seen anything so WORSE.
The data as of today's close indicate that it will take about 2,700
shares sold (combined support at $2 AND 1 7/8 !!!!!) to lower the bid
to 1 3/4.
Needless to say that most *probably* we will see an opening between
1 3/4 and 1 7/8 tomorrow. (providing that not too many sell orders
have been submitted before trading begins). This is really sad.
I think most of the "weak shareholders" have disappeared already, and
that the selling of the last days cannot be completely due to tax-loss
selling. In this perspective, the selling in the last hour seems like
someone anticipates bad news or something and wants to get out at any
price. (the first trade - see above - was below the current bid at
that time , even though other exchanges than the amex provided enough
support)
Even though I cannot imagine what (or why) this "last minute" selloff
has triggered, I have a feeling that I have overlooked something
looking at the latest financials of this company;
Could it be that motorola has plans of its own that it doesn't want to
share with cyi ? (this is the only reason that I can come up with at
this moment)
Any comment is allways very welcome and appreciated.
Regards,
Bullseye! |
