WR's Momentum Trades Message Board

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Strategies & Market Trends : WR's Momentum Trades

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To: Craig K who wrote (5540)	2/12/1999 8:54:00 AM
From: Kimberly Lee	Read Replies (1) of 11130

Hang, a reverse merger (like IMON) occurred on Jan 26, during which a bb shell named PDVP (Perfection Development) was taken over by VERT (VERI), significantly changing the business as well the stock price. I don't think the confusion started until Feb 8 or so, judging from the chart. I doubt anyone who bought VERT by mistake would have the foresight to accumulate before this Monday. I would say between Jan 27 up to Feb 8 (maybe Feb 5), the price increases in VERI stemmed from genuine and purposeful accumulation because of the new business (as in the case of IMON, PNET), then the craziness began on Feb 8 or so. MMs shorted lots of stocks above $5, knowing that it was mostly caused by mistaken identity. But now purposeful, informed buying are coming back in, they would be anxious to cover at reasonable profit below that price.

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