KowaBunga! Inc fka KOW (KOW)

[abh3vt]

Interesting reaction today to this news....which is a bit of a non-event. The market was told to expect this weeks ago back when earnings for Q1 were announced:

"Jennings commented further, "Given the level of our internal cash flow we expect to fund our pending acquisition needs through bank financing and do not anticipate the need to sell additional shares of common stock to fund these needs."

-from Q1 05 PR.

My guess is that some serious short-covering is happening today. It will be interesting to see the short interest report that will be out in a week or so. Probably won't tell us much IF there is a bit of short covering going on....

Even though there is strength today, unless there is follow through buying from longs, I would expect a retest of the 2.00 region again prior to earnings being released next month. The stock hasn't really built a good base yet.