I think you will get your mid-teens tomorrow may be. I like the pattern I see. The stock bounced off twice already from the .15 area (first time as ACCY). The third bounce off the same level would be pretty healthy, and I hope the stock will do that during the nearest two trading days. News or no news, I expect it to bounce off .15.
Yahoo board is screaming for news, as a bunch of immature kids. It appears that it would be better for the company to get the news out AFTER they get their PR firm, not before. The PR form will make the release more professional, which will be better for both long AND short termers, IMHO.
On any significant news expect resistance at .27, 0.35, and the whole region around .40. If these levels are taken out (and this will take a SIGNIFICANT news), the stock will be in the .50 to .60 range. This range if a very strong resistanse. People who bought their way back before the first tourney are now blaming themselves for following the hype, and will be very glad to bail out even. The volume back then was unbelivable, and it appears that in one day (the day of all time high, Feb 5th) volume was 6+ mil. According to Damian, this was the whole FLOAT during this time. Given the double count of trading volume due to MMs being a middle man, 3 mil shares changes hands this day. They volume was substantial for couple more days after that. Hence - expect resistance similar to what you get from your cat when you are trying to give him a bath (and the cat was not declawed...)
After the storm of the first significant news (whenever it may come), I expect the new floor to be established. (The old floor is at about .22). Optimistically, I'd call the new floor to be at .35 to .40. Pessimistically, I vote for region of .27 (especially if the news is not very big, or the time gap to the next one is long).
And now, ONE worthy post from the yahoo board:
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Message 1056 of 1065
Reply
velzyland et al...
Johnny_2Bad
May 7 1998
3:03PM EDT
Y ou wrote...
<<<WHAT THE HELL DOES IT TAKE FOR CSGC TO PUT OUT A FREAKIN PRESS RELEASE>>>
First of all...I know I have said this but it looks like I'll
have to reiterate. There IS and HAS been news ready to
go out for better than two weeks now...in an effort for what
is in the best interest of all LONG TERM INVESTORS,
they have been working out a deal with a very accomplished
PR firm to handle this and all subsequent releases from
the company. This company is in its infant stage in terms
of running a publicly traded company and all the orders
of operations that come with it...they are NOT however
infants to the business and connections needed to put
together a product that all of us WILL be proud to
watch on TV or in person at an event!...not to mention
a product that current sponsors will be extatic with and
one that prospective sponsors will be falling all over
themselves to get at. To achieve this, it takes time and
hard work especially at this stage of the game. Since
the first tournament Damian has had several succesful
meetings at the Masters in Augusta, 2 meetings in NY
and is currently wrapping up 6 meetings in Australia and
will have 2 more meetings in NY right away next week.
How do I know this and feel the way I do about this
company?...I have developed a relationship with
management over a period of months and have never
pulled my punches along the way in an aggressive
attemp to KNOW who is running the company that
I and several associates of mine own a very large
long term positions in! Damian is to return before the
weekend from Australia...I urge everyone that is invested
long term no matter the size of your position, to write
down a list of questions/concerns and give him a call
early next week. Some have said that everyone
shouldn't call and bother the man....I think that is utter
bullshit! If I had never spoke to the man and called him
out on the table and challenged his goals or abilities
as a part owner in this company...I WOULD NOT
own a single share in this business!
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Musya |
