To: JoeinIowa who wrote (4508 ) 2/13/1999 10:18:00 AM From: tk715 Read Replies (3) | Respond to of 6545
I believe this whole up down up trading pattern was MM induced. They were having trouble getting shares on the run to 3.00 because people were buying on the dips. So they ran it to just below 3.00 and held it to do some distributing at the higher price. Keeping it below 3.00 avoided a price breakout and a large uncontrolled surge in buying volume. When the volume died, they ran it down to get cheap shares to cover the shorting, pausing at the support level of 1.5. The volume dried up. They know an announcement is coming, so before many could get back in, they quickly ran it to 2.00 at the end of the day. Just look how many shares trading it took to drive it to 1.5 and how few to sneak it back to 2.00.(1.5 to 2.00 is a 30% move). Like all BB stocks, the price is highly manipulated. MMs can induce selling at lower prices by driving the price down, and buying by raising the price at will. I think there is manipulation of prices on all the exchanges, they must do it to balance the books and make a profit. The BBs are are just so much worse they the rest. Monday should be a PR. The previous dates were dec 14 dec 23 jan 4 jan 14 jan 22 based on this pattern, I predicted Feb 4. and it was feb 3 and the next feb 15 (..feb 14 is a sunday) The question is will it discuss financials, opening new sites, or opening the shopping mall. The PRs have been getting better and more upbeat, hopefully this next will continue the trend The price movement seems to point to a significant PR, probably financials. I think the mall opening is a few weeks off, just based on gut feel. Will the MMs run the price quickly past 3.00 and onward to create a big buying surge, or will they hold it below 3.00 and repeat the same game. I doubt there is much resistance at 3.0, it wasn't there long, and the weak hands buying there had plenty of chances to sell back at lower prices. Some, but I think few will have held and try to get even at 3.00. We will see Monday. only my opinion, long since 5/98 Gene