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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: Syl98 who wrote (7307)1/26/1999 12:04:00 PM
From: Otto GRAF  Read Replies (2) of 37507
 
Dear Sy198,

As you know Sy, you always need one buyer when you want to sell your stock. So far at least the last few days you always have one buyer for one seller that is the reason why the price consolidated into a very narow range.

Right now, according to my tech. ana., we have a distribution pattern before a seizable down into the price of the stock. So, if it is truth the price of bii should go test at least the first support level at: $4.60 / $4.80 ; and perhaps the second support level at: $3.52

If i look at my indicators i can tell you that BII will go down at 95% very soon, and will probably test one of the above support level.

What i don't like about BII is that the last few days the Internet stocks and the Nas. Comp. went up alot and BII did not move much this is not a good sign.

This morning i look at the DJIA, S/P 500 and Nas. Comp. Index and i can assure you that these three indexes are telling me that we are due for a correction according to my indicators. (RSI, STOCKHASTIC) etc.

I don't know exactly when, but it is comming very very soon!!!!! trust me Sy...

So be carrefull with your long position in any stocks for the time being, unless a very good news come up on BII.......

I will let you know when my indicators gives me a buying signal.

Tech. ana. is usually right at 75% to 80% if you know how to read the indicators and which periods to use for each of them. You can use agressive or more conservative periods. I use both agressive and conservative but my above comments are base on more conservative approach.

I hope i am providing some useful informations.

Otto Graf
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