Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Miller who wrote (32594)	1/27/1999 5:35:00 PM
From: TOPCAT1	Read Replies (1) \| Respond to of 34592

CMOZ... potentially bigger gap open tomorrow... I am almost out of breath on this one.... CMOZ... closed at $1.56 (up $0.31) on 3,497,800 shares... the action today was again another text book day of trading, the price opened gap in the morning running to $1.65 and quickly pulled back to about $1.30, then steady buying brought the price back to $1.50 and for the majority of the day the price traded within pennies of $1.50... most thought that there would be a pullback around an hour before the close but suddenly the price pushed into the $1.60 range only to close at $1.56 when 45,000 shares hit the bid at $1.56.... There are a few interesting things worth noting about the action... I talked to a US Market Maker who said... 1) he just couldn't believe the tight trading range and that simply no stock was coming out, he even called around to 3 MMs and they had no stock to sell... 2) the quick pullback this morning was pressure from short sellers so they could cover their short (essentially they loaded the board with offers, thus driving the price down while at the sametime driving out nervous sellers, then simply covered and when their offers were removed, the price shot back up)... 3) MMs are saying that short sellers have been already burnt once in this play and they are laying off to see what develops... 4) the consolidation 2 days before had dried up most of the float and the buying today was steady which has dried the float even further.... clearly US investors are looking for a lot more on this one that is why there is very little selling... in talking with the company, deals are still being worked on but no question they are close to another deal... 5) the lack of after market trading indicates that most short positions for the day have been covered... technically the chart and close looks like another gap open tomorrow....