Checked on MMU. Nothing has changed over the weekend. It is still
13,000 bid at 22, 24,500 ask at 24. There have been no press releases.
Volume on Friday was 75,000 shares which was below the average
for the past week. For a break to the upside to be confirmed, we
need at least 30 cents on substantial volume. If before market tomorrow morning we see the bid size increase and see someone take
out the 24,500 shortly after market opening, we may be seeing
some positioning taking place in anticipation of good news. If the
statements regarding the complete closing down of news from CG
and MMU are accurate, however, we aren't likely to get a rush of
buying until there is a press release. Then those who get it
first will jump in an lead the buying--if the news is positive.
Once again, I'd want to keep just as close an eye on CG. The
appearance on the board of both stocks would, in my opinion, be
a signal to take or add to a position. Keeping in mind,of course,
that in this business, there are many false alarms.
I agree with Jimsy that this is one of the two plays on which to
stay focused. |
