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Microcap & Penny Stocks : ACCY - Accsys Global Network, Inc (NASDAQ OTCBB)
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To: Mark_H who wrote (878)2/5/1998 4:24:00 PM
From: Musya  Read Replies (2) of 1574
 
That is true about volume (on NASDAQ the volume is counted twice). But even taking this into account, 6 mil volume (3mil shares changing hands from holder to holder) Is somewhat extreem for a company that has 2mil of float according to one source, or 6 mil according to a conversation with "a person at the front desk" (what does HE know?).

May be part of this volume is reshuffling of shares between MMs? At the time of volatility like this, it seems reasonable to assume that they will do that.

I do not know. I wouldn't jump into "fishy" conclusion right away. Just they have a mess in the office due to doing the stuff for the first time (THIS way, through public entity - first time, I presume). On a technical note, I see many buys at 15k, 20k, I saw some "unusual" (well, that is how my system calls them) transaction of large volume (they are not reported on the ticker) going throgh today. A good indicator of the interest of smart public - increase of volume in the last 30 min of trading. This is the time of professionals. On a negative note: no increase of price at this volume during last half an hour.

My read: ACCY may get a gap up tomorrow, but I'll not bet my life on it. In general, ACCY depends on news VERY strongly, so technicals make sense only if there is no news. And "no news" for too long is a bad news.

Musya.
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