I think $40 is possible this week and $50 will be the next resistance thereafter. Fasten your seatbelts as it will be a very jerky ride as investors paid as much as $88 and all the way down for this stock. 40% of float traded today and thats bullish...
Big
From Anthony's Board:
To: Richard Miller (12086 )
From: Wolff Wednesday, Feb 17 1999 3:38PM ET
Reply # of 18867
IMHO PCNTF will do the normal IPO thing. My def. of the IPO thing,
It starts with a big spike, then drops like a stone on days 2-4, does some +/- 20% after it stablizes for the weeks 2 and 3. Gains big momemtum on the news of coverages and quiet period becoming over stock goes up + 40%, Quiet period ends and the stock drops to the mid point of the flucations. Then the stock does a steadly climb regaining the +40%, then when the results for the first quarter are release the stock tanks, after that if the results are positive it goes back up, if negative and a internet stock the prices goes up still.
So for PCNTF I expect it to hover between 30-42 on every whim for the next week and half, then climb to just about 50 as coverage initiates, then it goes back to about 35, then climb out at go to 50 on a 2 steps forward and 1 back type mode, then go to 60 right before release of quarter results, then tank big time, then come back to 50 with in the month.
Remember this is IMHO, and "your mileage may vary"
wolff (a hard working apprentice) |
