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Microcap & Penny Stocks : PKGP (Packaging Plus)
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To: TraderGreg who wrote (2824)6/2/1998 9:24:00 PM
From: Jester  Read Replies (1) of 4783
 
Forget the MM's. They don't have any room here. If the short position size is as large as ICC believes(I believe it too) then the MM's will spend lots of time covering shorts this month. This means holding the price down. What does that mean for us. Accumulate shares and hold them for the rest of the month. The price is automatically held down for our buys by the MMs and the more we buy the more shares are out of circulation. They only have until the 30th. The down side? We don't really know what the float is. It has only been estimated. But we will know exactly by July 1.

Has anybody wondered why there has been a spike to .125 two times in the last three days? Seems strange doesn't it? Why bump the price up for a fraction of a second then right back down?

A guess. Some people place stop sell orders to take profits. They don't always place limit orders because if a stock just passes their limit price then settles they might not get filled as limit orders are taken last. But what happens to a stop order when you go above it. It automatically becomes a market order. But the market is suddenly .065 again. Sound crazy? It does to me because it is hard for me to believe they could be that desperate for shares. Then again it is just a theory. But it would support the short position idea and suggest it is formidable.

Accumulation is the key for me and everyone else who believes in this stock. I don't mind saying that my position in PKGP is formidable(several hundred thousand) now and will be much more so as we approach the end of the month.

rsp
djb
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