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Microcap & Penny Stocks : MEME Media Entertainment -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Stress who wrote (48)	2/11/1998 6:24:00 PM
From: James Bender	Read Replies (2) \| Respond to of 638

Contrary to everyone's belief this stock did not crash with enormous profit taking...I talked to company today and CEO explained there techniques for providing their services. They have been providing the services for awhile now but only recently starting charging for their services....From what I have been told from three independent sources there is a gross shortage of shares. The MM's have no inventory to speak of...I watched MM's on level II grab shares and then run like little kids over to the ask side to hurry up and sell them. Sometimes it would be the same MM on the bid and the ask...Rumor has it that the company was shorted to the 30 cent range...The activity on level II shows that the MM's are trying to cover by making their losses back from the huge spread. This is failing them at the moment because the selling is almost non-existinct. It is believed that there is only approximately 300,000 to 500,000 shares still in the free-trading float minus what has been accumulated in the last 2 days..( 100,000 ). You will notice that the ask at no time today dropped below a dollar, and bid was lowered to an embarrassing quarter..Even at that time not one sale went through..With any additional buying pressure this stock would go to 2 or 3 dollars and stay there...Those that have accumualated the stock during this recent runnup are solid and willing to hold as was dimenstrated today. Most of you out there know that you expected to see this one fall on it ass today but it did not because of the aforementioned reasons...They are so desperate to cover losses that are irreversible that they rocketed the ask from 1 dollar to 3 dollars to sell a few thousand shares....and there was no sells that I could detect...The holders of the stock during this initial runnup appear to be strong. barring any unforeseen fubars this stock is destined for the 3 to 5 dollar range...