ONCM was recovering EOD today. There was 44% selloff earlier today, which I didn't like seeing any more than any one else, but wasn't totally unexpected given that the stock has had a 200%+ run.
If a superstar stock doesn't open running with volume, it's natural that people will take their profits and sit on the sidelines.
However, I have been watching ONCM for a while, and remember that even before merger news, there was steady accumulation between .0007 and .001. I watched it run to .005 on sheer enthusiasm.
Now that the merger partner has actually been announced and identified, I don't expect it to be worth less than other shells that are trading for pennies.
ONCM should continue a steady rise to pennies, imo. I would truly surprised if it didn't.
The only thing that could get in the way would be a) announcement of a RS or b) a failure of some aspect of the deal to be finalized.
This, of course, is only my opinion, and I could be full of it. Also, logic and reason don't always apply to the penny market...alas.
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If you take anything I say as advice, you're crazier than I am.
