To: Ernest R. DeSaye Jr. who wrote (2045 ) 6/13/1998 12:43:00 PM From: Eric G. Erpenbeck Read Replies (2) | Respond to
IMHO, I believe that there are many that have seen the 2 year cycle on LTGL where every time there was a new release there was huge buying and as the buying came in LTGL was printing and adding new shares to the public, which kept the price down from hitting 20 cents and much much higher. On these past releases one could see the massive buying happening and yet only a 2-6 cents in move of the stock price. However, when a stock is at 4 cents and then goes to 10 or 11 cents in a single day (even though it should have gone to over 20 cents, if it wasn't for the printing of new shares) or even 5 cents to 8 cents. There are those that bought in at the low that will be willing to take that very reasonable one day profit, especially when they buy over 100,000 shares at a time. There are many of these traders in LTGL and this can be expected when there is 92M shares outstanding and a large float. My hopes were that we would see the massive buying as we have in the past and the beauty this time was that the printing pressing were shut down. However the buying didn't come in as in the past. WHY NOT (no one knows for sure)? LTGL expected stock price movement I can tell you that. I hypothesize many momentum players and day traders may have got stuck in LTGL on last run up, and were anxious to sale. Maybe a few long termer were frustrated from LTGL past actions and got out at near breakeven. WHO KNOWS FOR SURE.. Many may have sold anyway minimizing losses or maybe taking very very small profits figuring the glow isn't going to glow for a long time. For me I don't care where they go or if they come and go, we can't blame them and lets hope they each took a profit. As stability occurs which it will now that part of the equation has stopped (no more new shares per the company), I anticipate different stock price action then in the past. When it does move I think it will move much better than in the past (even even move better with smaller float). What will make the price move, I wish I ONLY knew. IMHO audited balance sheet (which will add to price stability), improved earnings, and it "MAY" get exciting as these things happen.
