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Microcap & Penny Stocks : CELSION CORP. (CLN was CELN) UP $.33 TO $.59 ON HUGE NEWS
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To: eXiled who wrote (187)1/29/1999 10:40:00 PM
From: Michael Harb  Read Replies (1) of 518
 
eXiled,

I was watching the trading real time. There was no manip like you are implying. The trades were printing several minutes behind the spread....As stock was dropping say to 1.15 x 1.16, sells from 3 minutes previous were printing at 1.20 and so on. This is very common in fast moving bb's. I can guarantee the makers probably don't hold much inventory of these things. They fall as fast as they rise. I bought in at 1.25 mid afternoon. Was in a daytrading chat room on My Track. When I mentioned it, many people bought in and it started moving up to 1.75 rapidly...which probably brought in other traders who were watching it. Of course, at some point you can expect profit taking. And as an illiquid stock as this reaches critical mass, it drops like a stone as everyone rushes for the exit. YOu thin the MM's are going to stand in the way and suck up expensive shares. NO they are going to lower spreads until they meet resistance. Which happened around 1.10. I sold at the beginning of the selloff and bought back in at the close.

I am VERY long and hope to hold for a bit. Hopefully our progress is a little steadier without the big swings.

mike
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