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Re: luckystrike post# 69009

Tuesday, 08/03/2004 1:41:03 AM

Tuesday, August 03, 2004 1:41:03 AM

Post# of 358439
Purely a guess. For UCAD, I think the MMs raised the price trying to help attract buyers so IB 2000 (and maybe insider(s)) could sell their shares. According to the Form 4 filed in March 2004, IB 2000 converted all its preferred shares into common ones then sold off 40K. They reported still holding 960K common. Preferred stockholders usually do not convert unless they have the intention of selling. UCAD is so thinly traded though they need to generate some buying interest otherwise it would tank big time when trying to sell off large amounts. IB 2000 also paid otcpro 50K free-trading shares to promote UCAD as their stock pick. This is a really good indicator they're trying to sell.

If you check the charts here: http://pinksheets.com/quote/chart.jsp?symbol=UCAD&duration=2-6-8-0-0-56 , UCAD also went up over $6 in March. After the insiders sold, the price then went back down.

For GEMM, I haven't read up on that one. So, I have no guesses.


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