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Microcap & Penny Stocks : Buying opportunity - Market maker out of business -- Ignore unavailable to you. Want to Upgrade?

To: BobbleUnc who wrote (173)	1/28/1998 2:03:00 AM
From: Master (Hijacked)	Read Replies (3) \| Respond to of 472

I don't have level 2 access. With regard to CMYN, if you look at the chart: quote.yahoo.com from 10:30 on the bid stood at .12/.15. I watched as about 500,000 buys came thru at .15 before I was convinced this was the bottom and I called my broker. It wasn't until late in the afternoon that a couple small sells at .12 were made. From what I know, the stock decline was due to a big convertible debenture. So the owners of those debentures shorted the stock down so they could get more shares- and then they could cover with those shares. A similar deal just happened at HCOM last week. The trick is to get in right after they stop shorting and before they start covering. Now this is not a "short squeeze" - the shorters get the stock to cover by converting their debentures and they got lots of it- the CMYN stock is mucho diluted now. But the selling/shorting pressure looks to be off and with the large amount of shorts I'm sure we could make it back to the .50- $1 range on the rebound this week. But the bottom line is that this one is a real dog stock, and you better get your money out quick when you see your price- the next 10Q will show the big dilution.