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Re: SuperDrive post# 4928

Thursday, 09/30/2010 12:27:49 PM

Thursday, September 30, 2010 12:27:49 PM

Post# of 34471
Just food for thought - we have traded somewhere in the area of 7 million shares in the last 10 trading days. If you figure that most of this is traders flipping shares and assume that only 30% of the buying constitutes shares falling into firm hands, then we still would have had 21% of the float locked up in 10 days. The fact that the price is moving up amidst all of this buying is the giveaway that this is not all trading and that there is a lot of accumulation going on.

I believe it is safe to say that after this recent flurry of buying, coupled with the company buying back a lot of shares, we are going to see much more stable pullbacks going forward.

I also believe that future price movement is going to have a strong, and perhaps violent, upward bias as a result of "cheap & flimsy" shares being absorbed out of the general supply recently.

This is an extraordinarily excellent time to own CCME IMO.

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