Tokyo Joe's Cafe / Societe Anonyme/No Pennies Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: TokyoMex who wrote (861)	7/24/1998 12:35:00 AM
From: JEB	of 119973

Your 48 support call on S was correct for that day. It is a sloping support line and currently looks like 48 7/8 is the support level now (I did not expect the H&S pattern to break so soon - I was expecting it to break around the 51 support level - leave it up to the market to break a good trend and dump all over it!). If you reference this link: biz.yahoo.com You can see where the market is now becoming jittery over this stock and the potential problems it faces. Notice the increase in credit debt. Keep in mind they are the 5th largest credit card issuer in the U.S.. I have followed this company for several months intermittently and have scattered notes. I will gather them and present a more complete picture of this company. It is my opinion that this company will break the 48 7/8 support and the next support level from there is 41 3/4 (long term support - 3 year). This article is not good news for the average investor in this stock. The institutions will be thinking twice about jumping right back in and they're probably thinking of dumping more of their shares. The market as a whole is not terribly inspiring to any stock fund or institution, so they probably will dump more on profit taking. Finally, anyone following this chart knew it would go down sooner or later. (Don't be surprised to see a small rally this afternoon. Some of the shorts will cover and do not like to hold a short position over the weekend.)

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