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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: Land Shark who wrote (5646)1/8/1999 12:19:00 PM
From: Franco Battista  Read Replies (1) of 18998
 
I don't believe that scenario on BII. There are a lot of day traders who are buying at about 5$ and selling at about 5.50$ for a quick 50 cent profit. That is why the stock has great support as it approaches 5$ and encounters a bunch of selling at the higher 5's. We need a few more days of trading high volume where some of the volume goes into the accounts of longer term players, this will dry up the float and set the stock up for a big move.
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