lcav Message Board - Msg: 5420772

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Microcap & Penny Stocks : lcav

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To: Harry W. Lowe who wrote (496)	8/5/1998 5:23:00 PM
From: Manny Gugliuzza	Read Replies (1) of 942

Yes, it was like you could not get a word in edge wise after the price broke out above 3 back in April Harry. I still see a strong base formation extending out from that move. more Volume has been recorded however on the up side moves to 3.5 when the bottom of this base has been reached except for 2 days in mid May hitting 2.7 and one day in mid June. Any increase volume to the downside would be negative. And i agree this false start brought on buy the news items waylaid by market conditions is still a good size chunk for this small price BUT i feel represents a buying opportunity unless certain price areas are penetrated especially in this sector given the fundamentals. I still have 2.50 to 2.625 as the lower end of the right shoulder base and coincides with the 50 day simple moving average which has been a critical downturn for the stock when broken in the past. time to go shopping for me. Back into APCO also at upper 7's with 50% retraction. And any market purchases at this juncture with the type of action now is very risky. May test that 200 day MA and not just on the DOW either. ar.

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