Microforum third most active conference
Microforum Inc MCF
Shares issued 18,133,966 May 28 close $6.70
Mon 31 May 99
Week ended May 28th
by Stockwatch business reporter
Microforum was last reviewed in Forum Watch for the week ended May 14,
moving back into third position among Canada Stockwatch's most active
conferences this week. On May 26, options on common shares of Microforum
were listed on the Montreal Exchange.
Early in the week, CANDUDE returned to the Microforum discussion, advising
patience and claiming that he was holding for a $20 price this summer, a
sentiment seemingly held by Enzy. Rob**, on the other hand, extolled his
own market savvy and warned of an imminent correction, for anyone with the
patience to read his upper-case messages. Polarcap also expressed a concern
with the general market: "Finally, today I've decided that cash in the bank
is a little better than decorating the walls with useless stock
certificates. There has been so much hype and complete ignorance in
investing in this bull market, that there has to be a correction of some
kind soon." What some saw as reason for concern, others like Enzy
interpreted as a buying opportunity: "They have 20 million bucks to spend,
an excellent relationship with MS and they have the Calms technology that
has already won them clients/partners that will generate revenue for years
to come." He went on: "Rob, what facts can you share that would make you
believe that this stock will continue to slide? The upper case letters and
four letter words just aren't giving you the credibility that I look for in
someone who's providing advice." When Polarcap joined in again, expressing
concerns about the danger of a speculative market, Enzy posed an all too
frequent question: "If you're not in on MCF, then why post here?" A
familiar poster, Lentils, who is undeterred by such questions, offered some
midweek observations: "MCF would seem to be at a rather critical point
here, threatening to fall below it's 20-period exponential moving average
on the daily chart. It also may be on the verge of breaking down out of a
'hell's triangle' pattern. Finding support at this level would seem to be
rather important." After providing links to a chart and an explanation of a
"hell's triangle," he added: "One also would want to keep in mind how other
companies promoted by Genovese's investor relations group have fared, such
as Laser Friendly, or even an ultimately successful one like Envoy
Communications after some harsh pain for shareholders in the interim."
Microforum did take a dip before recovering and ending a see-saw week at
$6.70.
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