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Microcap & Penny Stocks : ROLLING STOCKS

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To: Salim Ilmudeen who wrote ()	9/19/1996 3:09:00 PM
From: Charles Holewinski	of 233

Here is my two Cents for what it is worth. Basically what your are doing is identifying stocks which fall into a trading pattern. But like most of life things don't last forever. Storage Technology (STK) has been in a trading range of high teens/low 20's on the low side to 30 or more on the high side for several years. For the last several months is has traded in the mid to high 30's. One thing you must remember these stocks just don't go up or down because they have reached a certain number. Their prices change because of something happening either in the company or with some outside event which influences the company. In the case of STK, they had a new product called Iceberg which had a hard time getting developed. When the news looked good for Iceberg the stock went up and when bad news happened it went down. This good news/bad news event happened about three times. On the bad side the stock was at 17/20 and on the good side it was at 28/33. At one point the stock even shot up into the 70's. since then it has visited 17/20 I think twice and is now in the mid 30's backing off from recent attempts at 40. There are several small drug companies doing a similar up/down cycle all of course with stories. Lidak (LDAKA) is one. This has traded from below 2 to as high as 8 in the last several years. This stock goes up when the market anticipates some good news about a new drug they have and it goes down when the good news item doesn't happen. At present the stock is at 2 and might go below as tax loss selling sets in. If one of their drugs looks like it might be a winner it is back to 3/5 for the short term and who knows for the long term. IVX is another comany which has been up and down (currently down) over the past several years. When they get their problems fixed they will be back in the mid to high 20's As I said above each move up/down has a reason behind it not just a number. If you can find a company which will be around after the bad news is over you will find your Rolling Stock. So when you find a chart pattern which fits the Rolling Stock situation see if you can identify the reasons for each of the up's and down's and then identify where the company is now, etc. Charles H. P.S. Enjoyed seeing all of the other posts. Hope we can keep this alive with new info.

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