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Microcap & Penny Stocks : lcav
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To: Harry W. Lowe who wrote (469)7/28/1998 6:56:00 PM
From: Harry W. Lowe  Read Replies (2) of 942
 
To All.

AS I stated in on of my LCAV post #469 of July 24, 1998, "the technical
indicators did not see the news coming, and therefore the price rise was due to the news release".

The technical patterns for the Eye Care Sector up to that point were not extremely positive. So as the "positive outburst" subsides, so do the price of the stocks in that sector. What we had for LCAV today was a correction of a temporarily over valued stock. The question is what will the stock do tomorrow? If the price continues to decline below $3.00, my short term positive view of LCAV will have to be reassessed.

In my opinion (IMO) the price actions of this stock brings into question the near term (August) prospect of good earnings.

Seeing the volatility of LCAV in recent days reminds me of my
Grandfather's a saying, "When making a good meat pie, too much
flavoring without the beef ruins the pie". In other words, "too much
optimism and not enough good fundamentals does not support a rally.

Also a lot of the weakness could be do to the general correction of the market and the proclivity to take profits.

The action in LCAV tomorrow could be decisive. We need at least a 50% retracement from today's high of $3.625 to low of $3 1/16 to bring in more price support.

Harry
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