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Microcap & Penny Stocks : CMOZ, next cmgi

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To: Joe Griffin who wrote (526)	3/6/1999 8:32:00 AM
From: TOPCAT1	of 947

It sure was a brutal shakeout yesterday, the shorts certainly saw a small hole in the armour and pushed the price down in a major up market... this brought out a lot of nervous holders and turned them into sellers who likely said, "there are better plays out there I am getting out..."... and of course, CMOZ has promised acquisitions and a site launch but with all this taking time, investors are beginning to lighten up... these factors resulted in heavy selling (almost a million shares) but what I found interesting about yesterday's selling is that is came in waves (50,000 to 75,000 at a time)... however, there were certainly a lot of buyers around picking up the stock... so... was this a shakeout based on lack of news and shorts? was it a shakeout for MMs and traders to cover? or is the play headed down..? I talked with the company and all I can say is that they are very excited about the on-line casino acquisition and that a press release is likely early next week... they appeared calm in the selling, almost to the point that they were buying more stock... Monday should be a very interesting day for CMOZ... it's funny, I still remain positive given the trading last week...

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