Yes, until we get Audited financials PE ratio's are virtually meaningless. Momentum and news are typically the driving forces to sharp upward movements of penny stocks.
There is a pattern I've noticed with sudden movements though, and CYKS Friday action matched that patter very well.
- Day one, news, jump in volume, stock up 25%-35%.
- Day Two, word spreads, other tidbits get out, stock jumpts 40-60%.
- Day three, momentum traders jump on board in droves, stock jumps another 50%-75% to settle around the midpoint of the day.
The first hour on Monday should give us a good indicator of whether higher than average volume will continue. If we see volume trends in excess of 30 million, it should be a good day.
Just some speculate food for thought...
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