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Microcap & Penny Stocks : ROLLING STOCKS
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To: Salim Ilmudeen who wrote (48)10/5/1996 4:43:00 PM
From: Steve Dunlap   of 233
 
So I proudly posted my pick...a purchase of AUGI at 6 3/16 a week
ago. Since then it drifted to a new local low of just under 6 and
last Friday it fell off the edge of the earth. Finally staggered
back from under 5 to close at 5 1/2. This next should be an
interesting week for AUGI holders. As for my ability to divine the
machinations of stock prices...what a maroon!

Still, AUGI's action may point up one of the possible techniques to apply
to playing rolling stocks. I've mentioned before that on more than
one chart at high and low extremes I see a "long tail". If AUGI
heads back up from here, the chart segment including this spike will
be in all the textbooks about rolling stock. At lows and highs
people tend to go nuts. For someone willing to miss a cycle of
AUGI, you could have resoned that at it's low of 6 AUGI had leagues of
tired worried speculators who might panic and offer a chance to buy at
5 or less. An order placed at 5 (or even 4 1/2) on
Friday would have filled. Assuming the stock rebounds to it's normal
range after the "weak hands" are out, you could clear an easy 20%
next week. I placed an order to buy DGSI well below the "normal
range" once and it filled...probably for the same reasons. Sold
for 20% in a few days after it rebounded into it's normal trading
range. I'll be studying the charts and AOL posts for more
opportunities to play the "long tail at the low" game.

_|||||:-} <--- my attempt at a "slap to the forhead" emoticon

Steve
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