EOD Update (11 May 2006)
Another strong move by OILCORP... news came out about signing of agreement on deep-sea fishing consortium. This is actually old news. I find it hard to believe signing of this agreement (for a deal which had already been announced previously) would move the share price so much. It's gone up 45% over two days and 110% over my first buy price. Something else could be brewing, if this is to be a sustained push. Will have to be alert for possibly more news in coming days.
Latest disposal:
OILCORP: -3,000 (1.85) ... Balance 15,000
/ichithekiller
posted by ichithekiller @ 11:58 PM
2 Comments:
private placement issue listed on 10 May. Maybe this is the reason they pump and dump.
That is most likely the reason they pump and dump. What I mean is a pump and dump doesn't work without outside participation. No distribution = failed ramping exercise. And outside participation will be minimal if all there is to offer is a bit of old news. So there should be more news / new developments forthcoming, otherwise no one will take the bait and jump in at this price level...
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