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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (6582)	1/28/1999 6:42:00 PM
From: Trader J	Read Replies (1) \| Respond to of 56535

Max: That is pretty typical (dare I say) of any very strong, low float issue. Most of the smart money would not chase after the gap unless the issue broke out during the day...which it did not. The next logical entry point is 10 minutes before the close as any profit taking will happen then and the issue will drop. In this case, it was readily apparent that no profit taking was going to happen, so those looking for the gap play bought it. With such good action without any significant pull back coupled with a low float, there are simply not enough shares in the float to meet the demand. This will continue to be explosive I believe over the next day....with wild swings. I did not expect it to close that strong but was not completely surprised. Tomorrow will be interesting. TJ