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Microcap & Penny Stocks : Diamond Entertainment Corp (Previously DMEC) -- Ignore unavailable to you. Want to Upgrade?

To: Richard L. Williams who wrote (4310)	6/3/1999 10:41:00 PM
From: DBrian	Respond to of 6957

DIAMOND ENTMNT (OTC BB:DMEC): The stock was down almost 15% to finish at $0.1675 with a little heavy volume of 2.93 million shares, little over 2 times of its 3-month daily average. Technically, we are not surprised that the stock retreated little bit, because the stock appears overbought as indicated by Williams %R (heavy buys with little upward movement in the past week or two). We really don't have any concern about it, it's fine as long as there are more buys than sells and there is no share dilution. We can hold the shares for months and go through with the market. The stock may move up or down a few pennies in the coming days, as the stock is traded on the sidelines. We are looking forward to major movement of the stock. We believe 10-20 million trading shares would break the stock loose. Remember, the news will come out any time from now on. We maintain our short-term price target of $1-2 and believe this stock could break these levels with the launch of DMEC e-commerce site and the contracts with major Internet companies and retailers. The stock is rated strong buy under $0.22. ------------------------------------------------------------------- Copyright 1999, analystgroup.com. All rights reserved. Persons may reprint or copy any portion of this publication, provided any reprint or copy is accompanied by our web address (http://www.analystgroup.com).