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unluckyami

05/23/06 1:29 PM

#8015 RE: florida135 #7983

I would have no idea. As I mentioned when I was doing my DD and mentioned on this board I thought 2 billion was way to many shares to hols a good price. To many people out there could continually flip this stock. Even with the new rules that require a that a flip clear which is usually 3 days a person could buy 200 million shares and do flips of 20 million 10 times. This could work out to 3 flips daily before you could start flipping all over.
Example you buy 10 million shares with money available. you could flip this 10 million the same day but would have to wait 3 days before buying and flipping again.
Daytraders with alot of cash available could buy huge amounts at a low price then spend days flipping as the price increases.
After they start selling the price drops, then they buy up the shares from people selling and wait until the dust clears and the price rises after a PR, then they could sell off again as people see the PR and want to buy. Their seeling causes a panic and others start selling and the cycle begins again.
I really don't think that more than 25-50% would be held by longs as this would still amount to 500 mil. to 1 bil shares. Chphldr says he has been buying like crazy but I don't if he holds more than a couple percent. remember 1% of the stock would be 20,0000,0000 shares. For someone to buy 10% they would have to bu 200 million shares.