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Microcap & Penny Stocks : CMOZ, next cmgi -- Ignore unavailable to you. Want to Upgrade?

To: Leroyt who wrote (39)	1/21/1999 5:54:00 PM
From: TOPCAT1	Read Replies (2) \| Respond to of 947

Pull-back and fill in... classic pattern... when any stock comes from $0.05 to $0.50 in five days and gaps open each day, there has to be some profit taking, pull-back and fill in is always the case... I don't know anyone here but everyone seems to be talking about the owner of this company in a negative way because of promised deals before that didn't materialize and now this seems to be the same pattern... so... if a deal is "imminent" and is cut in the next few day, we will hopefully stop bashing the poor guy... I will support your bashing if a deal doesn't come in 2 or 3 days, I have run several companies, and believe me, nothing is ever done on time when it comes to acquisitions... CMOZ... closed at $0.38 on 1,829,000 shares (actually the spread was $0.38-$0.44 and the last trade was a 3,500 share sell-down)... in early morning action the price gapped and shot to $0.56 then pull-back to trade most of the day in the mid $0.40 range, only during the last 35 minutes did the price drift lower... actually, it is common for Market Makers to maintain a huge spread near the end ($0.06 spread) to draw out sellers at the lowest price possible... the only place to buy was at $0.44... to me this indicates that most of the selling had dried and the action was mainly controlled by the MMs... I got the impression by the strong morning push that most investors and MMs were expecting news today but when that didn't happen the price pulled back to yesterday's close... this is called pullback and fill... it will be interesting to see the action tomorrow... 1) if there isn't a press release I'd expect more consolidation or 2) if there is a press release and depending on how important the acquisition is to the company, then this could be the start of a sustained run... either way... it is getting interesting...