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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Pugs who wrote (30225)12/24/1997 12:29:00 PM
From: Michael Harb  Read Replies (2) of 55532
 
Spike to $4 had absolutely nothing to do with short interest covering. This stock hardly traded before Riley started advertising the "supposed" short squeeze. A few people started buying initially moving it up 10-20% a day from .19. They used this to advertise that the stock was moving on a short squeeze. All the penny players saw it moving and jumped on the momentum. I jumped on at .37 and jumped off at 3.125 as the momentum waned. Many did the same. My buys were not short covering.

This stock was heavily ADVERTISED on the net. The spike was the result of people jumping on to surf the momentum for a few days. Nothing wrong with that. But don't mistake that for short covering.

If you people really believe this thing is going to open UP after the halt, I feel you will be severely dissapointed. I will "guess" it opens around .50. The SEC did not halt them to buy them time to put there financials in order. They obviously have some very serious problems with the manner in which this entity is conducting its business.

If you read the posts back to October, this squeeze was supposed to happen "next week" for the last 3 months. A very dynamic timeline. Hello, hello. It's aint' gonna happen.

As far as you people's fantasy of $50/sh, it is just that, a fantasy. Even if someone was that short, it would bankrupt them to pay that price. What happens when you go bankrupt? You don't pay. Mork may be short slightly less than 100K (If he still is). That is an insignificant position. As far as a larger short position, I would put about as much faith in Riley's numbers as in his psychic abilities. I suspect many that have sold shares will not admit it to Riley for fear of retribution on the thread.

And to everyone. Take responsibility for your own investment decisions. We've all had winners and losers. Be big enough to take your losses and not launch a witch hunt against anyone who may have tried to warn you.

mike
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