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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes
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To: J. C. Dithers who wrote (5848)4/10/1998 11:40:00 AM
From: RCJIII  Read Replies (4) of 34592
 
Les-

SA buying raised the stock price by about 100% on Thursday. The reasons it didn't go to $2 or $3 are because:

1) The Market Makers created obviously phoney resistence at around $1.25 and kept stalling a surge even though lots of buying was coming in so that another pile on wouldn't occur that they would be left paying for.

2) Alot of people that follow TokyoJoe dump a stock shortly after they get a profit, thus creating selling pressure.

3) TokyoJoe posted a misread warning that he was liquidating 1/2 of all of his positions before the close that created panic selling & stalled the upward movement in the stock price. Many bought back in when Tokyo clarified his post and stated he was remaining long on INTK because it had much further to go.

I believe we gap up at the open on Monday. The original short termers and daytraders are out of the stock but will jump back in when they see the price rising and realize Tokyo is still long. Also, the stock has received alot of exposure due to the price rise, volume rise and hopefully all longs informing those they know that a short exists and a very persistent group of shareholders are buying heavily at the open on Monday.

Also, don't forget earnings are due Wednesday and the company is telling people to expect great results.

Add all of this up (Great Earnings Report, Short Position by MM's, Lots of new exposure, TokyoJoe touting the stock) and you get great upside potential.

RCJIII
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