Three stocks ...EMBI,ARCC,GRIN
EMBI, Yesterday's 50% run-up has hit resistance at .25 and, today, profit taking has pushed it back a couple of cents.
According to the charts, soon, maybe next week, it will start moving up again.
If it breaks through the resistance at .25 the next resistance is .30......after that, none until, maybe, .45
This buying interest is the result of the company reporting a .02 per share profit for the last quarter....
ARCC..Allied Riser Communications is holding a special shareholders meeting at the end of this month to vote on the proposed merger with Cogent Communicatiions, a huge private company.
Institutional bondholders of ARCC have obtained an injunction to halt the merger, but if the company can get that injunction thrown out, it could be a very profitable deal for Allied shareholders.
GRIN..Grand Toys Internatiional is coming off a 1:4 R/S and selling pressure is pushing it back down to the 1.00 level. For the past two weeks it has been bouncing on a support level at 2.00, but if/when it breaks through that, the next support is under a dollar.
The OS is only 1.2M and the float is only 900K....
A little buying pressure could make it fly......
as usual....JMHO
Details and facts are expectted to come out of the proposed meeting....
"Aim low Sheriff...They're ride'n snakes"
as usual...JMHO..SMD
