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Andrew.....RE: KNIC's end of day trend
First and foremost, I'd like to state for the thread record, that it is not my style to post a pick, then remain elusive until it makes it's move. I'm going no place.....KNIC IS!!
The reason KNIC's been "stuck" in this bit of a "stale"range, (for a big two days, I might add) is a brief two part explanation.
1. NO NEWS......this brings into play the "Oh My God" Effect, and people begin to trade less ( less volume = less volatility ). This is clearly exhibited in KNIC's trading volume of the past few
days. DO NOT pack your bags and hit the road quite just yet. If you feel uncomfortable in trading this security based on my FACTS,
there's a thing called "a stop/limit order"......feel free to use it to protect your gains. If you're one of the people that got in around the $8 range, please do not be on edge. Patience will win
on this one.
2. If you've been taking notes on the end of day trading volume (at the close)...good goin. It is mighty evident, that "someone
significant" is covering/buying shares in large blocks. I dont believe I need to spell it out to you who it may be. For those of
you still unaware...remember those naughty MM's and offshore "pirate" people who have been shorting the #!@%*!! out of KNIC?
Well, it is my understanding, that a "pending NASDAQ" inquiry into
their "alleged" market manipulatory practices has yet to be placed in full effect. In the meantime, these unscrupulous individuals will try everything to keep the share price as low as possible( to sour the stock) while, in with the same token, they cover their shorts at close of the day when no one's looking. Why? you ask? They do not want to draw attention...plain and simple. Remember, the conversion of KNIC's 7% convertible debentures that were issued in a private placement financing of $15.5mil is still at stake. These offshore "pirates" as they have been dubbed, still have a stake in this until further notice, and want the price to remain within the $6 range yet still!! Also, they must cover the UNGODLY amount of shares held short, while trying not to raise the share price or raise suspicions.....and well.....THAT's JUST IMPOSSIBLE! It's one or the other gentlemen......not both. However, they are doing a remarkable job, IMO. Just pay close attention towards the end of the session when the old man with the gray hair bangs the gavel.....take a peep at KNIC's intraday and you'll see some thicker than usual lines......hmmmmm......maybe someone just spilled some ink or something......not!
Also, Go to the KNIC thread for all the other news regarding PURE ENERGY CORPORATION, INSTA-HEAT...etc......and see what KNIC's really all about. This is not "just" a short term trade. It is a perfect stock, both short and long term.
Regards,
Steve |
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