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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: Money Maker (MM) who wrote (47504)1/26/1999 7:07:00 PM
From: Money Maker (MM)  Read Replies (4) of 119973
 
Today, my first call on IIT was at $10 13/16. Don't forget to watch it out tomorrow morning. IIT has good TA at the current level.
Closer to break its MA 200 (around $11).
Reversal pattern on bollinger, from down to uptrend.
RSI currently up from 34.4 to 37.7. IIT still has more rooms to go North.
Stochastic, uptrend.

I heard rumors that the bidders want to buy this company at $2.5 or lower per share. Since IIT represents 10 shares, so $2.5 per share equal to $25 per share IIT.
The target of this privatization is on March 1999.
I also heard that the bidders still want to buy this company above $2.5 but need more concessions. One of them is able to have it at least 51% shares of the company. But looks like Indonesian government not willing to do that.

There are a lot of rumors on this company. Watch this out. Easy bucks if we play it smart. Be conservative. I prefer to choose $14-15 for my own target but will change it if the rumors come stronger.
Remember, rumors still rumors.

Do your DD before making any investment.

Good luck and happy playing.

MM

ps: yesterday, I cleaned my position on TBH. In first around 69, and the second around 63 with the first target around $50. But finally I was out around 59 3/4 since looks like TBH ready to rebound.
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