One Step Ahead

[Mach1cobra]

Interesting read on GLKCE:
By: Penny_TA
06 Feb 2005, 02:23 PM EST
Msg. 531748 of 531756
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GLKCE - friday's action,
Not sure how many were watching,
but GLKCE was pulling back to 0.016 from 0.04. But it was bouncing between 0.016 and 0.022 - getting knocked down several times on small volume. Lots of manipulation.

I call this type of play a "V-spike" because it looks like a "V" on the price chart. A stock that collapses for no discernible reason, then corrects with equal violence. Usually to the upper bollinger band, which, for GLKCE is at $0.20. Anyone remember SSPC in 2001?

From 2pm on Thursday to 9:45am on Friday (that's 2 hours), this stock ran some 1000%. I think most don't even realize this.
If you look at the 5-minute chart you can see the buys are BIG and the sells are SMALL, the buys often 3x the volume of the sells.

http://stockcharts.com/def/servlet/SC.web?c=GLKCE,uu[w,a]iaclyiay[d2][pd20,2!h.02,.20!b50!f][vc60][i...

The stock held level all friday afternoon, which is stunning considering traders were closing out positions on a friday - and some with highly profitable positions at that.

I have a feeling we have seen nothing yet. Monday will see a flood of smart purchases, which will draw even more attention after the close on monday from everywhere. Where this will peak, nobody knows.
But all it takes is 1 person with deep pockets to make this play a 20-bagger. Who cares if GBLL=GOBCE=GKLCE is a POS.
Of course it is. But it's a POS that stands in a rare position to make a powerhouse run, due to its strange 99% collapse on the day of an 1/350 R/S.

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