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Non-Tech : pamc -- Ignore unavailable to you. Want to Upgrade?

To: wedgete who wrote (458)	10/9/1999 4:49:00 PM
From: Gary Wisdom	Read Replies (1) \| Respond to of 570

wedgete, you couldn't have bought shares on Friday and had them drop 1/4 point since the high for the day was $15 3/16 and it closed at $15. Anyway . . . As for buying more at this point, I really believe the safest thing to do at this point is to let the big boys duke it out for now and stay on the sidelines. Obviously, there is a huge seller in this stock that's been pressuring the hell out of it. Once it started moving on Thursday, Equity Offerings (EOFR) jumped in for the first time in over a month and sold a ton of it. Obviously, they weren't done since they came back on Friday and sold another 40 - 60K shares. They were the only ones offering shares all day (showing an offer of 100 shares only but obviously sold a ton). Even though it was a huge market day, and Pamc really should have done better, with a seller that big, it looked pretty good, only being down 1/4. Someone obviously wanted to buy it, as Inca was on and off the bid the entire day. Finally, in the last 30 minutes, they bought 40,000 shares off EOFR. But, alas, it doesn't look like EOFR is done selling yet as they were still on the offer at day end. In fact, they never left the entire day. Makes you wonder when there were over 15,000 shares bid at $15 Thursday, and they didn't hit any bids at all at day end. IMHO, I think EOFR is shorting this stock heavily, especially since there was a 12,800 share bid at $14 7/8 at day end and no one hit it. In fact, over 80% of the volume on Friday was at $15 or higher, as no one hit the bids all day. However, my trading partner thinks they're not. She thinks that EOFR is selling stock bought when Gary Craft was at EOFR and are dumping it now. Whatever the case, when these fools are done selling it, it will go up very fast as there won't be anyone left to sell. So, hold on to your shares for now. Maybe watch for another dip to $13 area and buy just a few there. And if it breaks $13 (I hope not), then don't buy any more until it comes back and is uptrending. Also, Friday was what's called an "inside day", which just means that the previous day's move was simply being digested. Nothing too concerning. Just keep in mind that Pamc has been on a downtrend for 13 straight weeks now. Until and unless it goes over the 200 dma (which is currently a little more than $18), it's not going to do much good. However, if really good news comes out, I'm sure it'll be over that $18 mark (and more) all in one day. Also, whereas Friday's volume was lower than Thursday's, it was still much better than we've seen in over a month. Our only hope on this stock is to see a pickup in volume that will show that buyers are finally ready to dive in. Someone bought a lot of it on Friday. If it's one buyer, that's good. I didn't see any retail activity on it at all on Friday on Iwatch. Be patient. We all have to be on this one. Good luck. P.S. Welcome to SI. A much better message board than Yahoo or RB for sure. Much more quiet, but at least you don't have those idiots here.