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Biotech / Medical : GNBT Generex -- Ignore unavailable to you. Want to Upgrade?

To: GatewayStocks who wrote (90)	3/2/2006 11:22:28 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 310

Very interesting trading in GNBT today.. Took a bold chance and decided to re-enter a position yesterday in anticipation of this Canadian Health agency meeting PR (apparently the PR is due out in the morning).. From what I discern, this meeting will go far toward determining whether Buccal Insulin treatments will be accepted in Canada. But obviously the big news remains the Bird Flu side of the stock.. That's where the "spice" is, and apparently they discovered the virus in Canada recently.. Anyway... from my perspective, GNBT needs to break previous highs or make a major consolidation move. But today's trading action on Level II was indicating that there seemed to be solid support at $2.15/share. Whenever the stock dipped down to that level, major buying stepped in And this happened 4 times during the trading today: On the hourly chart, it appears that today was a mild "breather" that brought the hourly Stochastic down to the oversold level, but with the last 20 minutes of trading creating a reversal (After Hours actually saw trading back to the point of yesterdays's close, creating a "hammer" on the Candlestick chart). That's very bullish, combined with the fact that we did not see tremendous distribution today: bigcharts.marketwatch.com So tomorrow will be crucial, IMO. It may lead to a new high, or major distibution at the $2.50/share level. But now for the kicker.. Apparently one of GNBT's directors filed a Form 4 declaring that he had recently purchased 70,000 shares @ $2.21/share price. edgar.brand.edgar-online.com That's quite a vote of confidence, considering the run the stock has already made. Hawk