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Microcap & Penny Stocks : Diamond Entertainment Corp (Previously DMEC)
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To: Drake who wrote (4077)5/28/1999 10:30:00 PM
From: DBrian  Read Replies (2) of 6957
 
DIAMOND ENTMNT (OTC BB: DMEC): The stock lost half penny to finish at
$0.195 with a daily average volume. Basically, the stock was traded on
the sidelines. In the past four weeks, over 50 million shares have been
traded. The ratio of buy to sell is about 5:1. Huge accumulation is
going on here! According to one source, several market makers are calling
around for the shares. They are running short of over 14 million shares.
Basically, they got in the trap, as they started to short at teens by
hoping the stock would be back down its previous base at $0.05. They
don't have any clues to the developments of the company. Now they want
to continue to short at twenties by hoping the stock would be back down to
teens. With a significant pushover, we believe the stock will explode to
$1-$2. That was about what happened to GRPV if you remember. But we feel
DMEC is a much better company in terms of its fundamentals. DMEC has
ongoing revenues over $3 millions and has own product lines, develops new
product lines and looks out for new product lines. Furthermore, its
outstanding shares and floating shares are only half of the shares that
GRPV (TXCI now) has. Only thing we can do is to hold, to buy more, and
to spread the word. Everybody will be a winner by getting in now, as
market makers want to make money as well and will follow the market
eventually. One more note, two major market makers have been heavily
accumulating the shares in the past several days. The stock is rated
strong buy under $0.22. Our short-term target price is $1 to $2.
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