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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: TLWatson59 who wrote (23769)12/5/1997 9:47:00 AM
From: TLWatson59  Read Replies (2) of 55532
 
Good Morning ALL: TA 12/5/97 RMIL - There is definitely a battle of the trendlines building up. At present the last viable long term uptrend line connected at Wednesday's low point. Yesterday's respect rally, if you can call it that with such puny volume, was not that impressive. Time appears to be running out for any appreciable upside move over the near term, without any concrete news. Perhaps it is just a trading maneuver to wait out the straggling tax loss sellers and ploy to gather in some last minute cheap stock.

I certainly hope so because the chart pattern is indicating potential disaster should the price fall below 1.50 with any appreciable volume. Technically it would not be surprising to see the stock fall back to the .40 - .50 price range.

Fundementally, the consistant postponement of releasing the financial figures for the last reporting period along with what are now antiquated 10K 1997 year end numbers does raise some very serious questions. Unless I am completely crazy, none of those numbers can be influenced in any shape or manner by the proposed merger. Like it or not the merger is still in the proposal stage since an actual transfer of funds has not been made. This is not to say that it won't be made but legally RMCW and Olympus, the latter now operating under the name Rocky Mountain International are still two very separate and distinct business entities. The only way that could not be would mean that the papers have been siigned, the money has been exchanged under whatever conditions the merger called for but the sharehlders for whatever reason have not yet been told.

In any event, my best wishes for success to you all and may the coming Holiday Seasons bring you all joy anf peace.

TLW
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