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Monday, December 13, 2004 1:23:41 AM
My gut feel is that it will move a little sideways/down. I would bet more on the downside, but it is so active right now it will keep volatility, I suspect, for a few more days anyway. Of course, Christmas doldrums are here and everything might stop because of that.
Anyway, I would concentrate on accumulating in the low 40s and selling similar amounts in the 50s. I think it will move dramatically in this range as long as it has volume. Without volume, I'd expect it to sink back into the dungeon from whence it came, .0025 or so, wasn't it? Maybe keep your core quantity if you really believe in the company and can't stand to miss a run! Just trade the pivot quantity.
I don't expect to see another breakout. These no-news breakouts are driven by frenzy and MM manipulation.
Look at DFLR: Friday it was trading at .0002x.0003. Volume kicked into overdrive and it hit .0016 intraday with a solid high bid of .0013. That is 300+% in one day and it traded close to 1B shares. That, if it continues, is the kind of play that could get another huge breakout next week. All they did was to announce that the shares they issued with an S-8 were actually issued for "appropriate purposes". Means nothing as far as I can see. Maybe others know more than me. (Fair warning/disclosure: this is a cash register stock and I own it.)
Or look at PCOR, it opened at .0001 (.0001x.0002) on Wednesday. It closed at .0005 Thursday and held it into Friday. That was 400% on no news and the day's highest volume Thursday (except for AFRD which doesn't count
) It is also another huge potential stock, I think, and a good buy @.0005, but watch for a volume slowdown. (Fair warning/disclosure: this is a cash register stock and I own it.)
IBZT had a great run, but with current volume and without news again, it will flux in the range it hit late last week: .003x-.006x. Still room to play!
All, as ever, IMHO.
Anyway, I would concentrate on accumulating in the low 40s and selling similar amounts in the 50s. I think it will move dramatically in this range as long as it has volume. Without volume, I'd expect it to sink back into the dungeon from whence it came, .0025 or so, wasn't it? Maybe keep your core quantity if you really believe in the company and can't stand to miss a run! Just trade the pivot quantity.
I don't expect to see another breakout. These no-news breakouts are driven by frenzy and MM manipulation.
Look at DFLR: Friday it was trading at .0002x.0003. Volume kicked into overdrive and it hit .0016 intraday with a solid high bid of .0013. That is 300+% in one day and it traded close to 1B shares. That, if it continues, is the kind of play that could get another huge breakout next week. All they did was to announce that the shares they issued with an S-8 were actually issued for "appropriate purposes". Means nothing as far as I can see. Maybe others know more than me. (Fair warning/disclosure: this is a cash register stock and I own it.)
Or look at PCOR, it opened at .0001 (.0001x.0002) on Wednesday. It closed at .0005 Thursday and held it into Friday. That was 400% on no news and the day's highest volume Thursday (except for AFRD which doesn't count
) It is also another huge potential stock, I think, and a good buy @.0005, but watch for a volume slowdown. (Fair warning/disclosure: this is a cash register stock and I own it.) IBZT had a great run, but with current volume and without news again, it will flux in the range it hit late last week: .003x-.006x. Still room to play!
All, as ever, IMHO.
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