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Microcap & Penny Stocks : PLFM - Undervalued with great potential
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To: PhilT who wrote (3593)7/18/1998 10:53:00 AM
From: mark g  Read Replies (1) of 9096
 
Phil T: I agree completely. I've been in PLFM since April when the rumor was that the smart money was buying heavily into PLFM, setting off a week of 7m trade days. I have watched the action on this stock ever since and have never seen anything to indicate that the smart money was selling,i.e.,large block trades. It has been largely small investors and daytraders that have influenced the direction the stock has taken. I'm not a technician but I feel confident in saying that there is probably alot of resistance between .75 and 1.50 so I'm expecting a roller coaster for Mon. and Tues. However, if you remember the quick runup a few weeks ago when the dates for the breakup of Telebras were formally announced, one might conclude that there is alot of money on the sidelines waiting to buy into the peripheral stocks that will benefit from the breakup. If this conclusion is correct, then we may blow right through resistance points. I have experienced the collective heart attack all the longs endured when PLFM went from .35 to 1.90 and back down, so I'm prepared for a wild ride and will not be selling. IMO, the trading that results from the news we get next week will establish a trading range from which the stock will base until a formal contract is signed. I wouldn't put too much emphasis on the July 29 date since jockeying for position among various partners could go on for a week or two longer. Whatever the case, the next three weeks are going to be very interesting. Fasten your seatbelts indeed. Good luck to us all, although Valium may be what we need more. mark
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