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Gold/Mining/Energy : Microforum (MCF:TSE)
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To: Wiselight who wrote (1115)4/21/1999 7:44:00 PM
From: Robert Dirks  Read Replies (3) of 3896
 
From Stockhouse / Insider Report:

Microforum [MCF:TSE]-- Breakout to New High!

What can you say about any stock after it has a day like MCF had today? Up $1.14 (+44%) to close at the daily and the 52-week high of $3.68 on volume of almost 5 million shares traded. MCF is in heat! The share price is now up 330% since the Insider Group first mentioned it, and with the break into territory not seen in over a year, we could see this run go higher still before another consolidation.

Yesterday we noted a move higher for MCF might be sparked by news, but it now seems the pool of shares available in the $2.50 range simply dried up, setting off a rally in search of the next resistance level. Some members of the Insider Group have observed that the impressive strength in MCF's market might be getting fueled by the profits of investors who have escaped their Bid.com [BII:TSE,BIDS:NASDAQ] positions before that stock's recent meltdown. The theory does have a certain logic about it, since the TSE is now in need of a new Internet sweetheart. Only time will tell what investors will do to MCF's share price, but at least the company has revenues and a business model that analysts have stated deserves a higher valuation.

For those not completely satisfied with the simple supply/demand arguments, consider the following twist on an old adage which we heard today. Could today's surge be "The storm before the CALMS"...
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