Thursday, May 17, 2007

PMCL - Our Next Stock Pick

The PMCL stock pick had been brewing for the last few days. Finally I private messaged Jimmybob this morning at 9AM:
I looked at chart and recent news. PMCL is primed to run again. I think we should make it our pick.
RBCM just up ticked off the first ask. Might let it run today.

His response was: Its done it before with news. It will come back down. I still think its being diluted... If RCBM is still on the ask, it will only move so far. Up to you, but i am stayiing out...
I got in first thing at $.0135 mind you it has closed at $.0115 the prior day. The stock proceeded to climb and I thought I had made the right move. I was debating whether or not to buy, so I just bought half of what I wanted to buy. Before too long the stock was beginning to sell off and we were back at $.0135. The lead MM on the ask was once again RBCM. Jimmybob was right. With RBCM on the ask gobbling up shares the stock was going no where. Then suddenly RBCM switched from the ask to the bid and the stock shot straight up to $.018! Jimmybob was able to get in at $.016 and I added to my position at $.0165.
All you need to see from the chart below is the recent support at these levels and the accum/dist which shows how the stock has been selling off for some time now until the last few days. PMCL was over sold.



My take current take is that we have just scratched the surface with PMCL. The most recent pr is the most promising concerning the cusip and ticker symbol change. It should happen any day now. We are still on the naked short list so they either have to cover now or in the very near future. I am very optimistic short term.
Please check back more PMCL updates to follow.

No comments: