You being sarcastic? ;)
You call that strong? Not with a 66%+ volatility, that's 5 minutes of end of day book bid removal, day trader jumping, and you'll cycle downtrend. I'd wager a 10,000 market sell order could blow that to $1.10 or less in 10 seconds. The day traders brokers will toss their trades, and wait. Strong would be building bids at decreasing levels, until a 100,000+ share bid at $.99+
This stock scares me... the rep of ASE is on the line{again}. The company says:"The company has terminated the proposed private placement arrangements through a New York based partnership." yet that PP has decreased in value from the start. Their business model is no better then 1 month ago. "The company has arranged short term, debt based, working capital financing and will pursue obtaining long term financing to accelerate growth." which will either means a further PP attempt, or a lame convertiable debenture. Either way, both will most likely cause further selling in the short term. Yes, it's off it's most recent lows, but the stock is only having a 'short' rally. The fundamentals of this stock are; well, nearly none existence. Lawsuits are looking like the normal course of the day. And unless they find an angel {and CMGI Inc Nasdaq:CMGI is busy} then lower it will drift. |
