My views posted last Friday relevant on this 10.5 cents wal issue.
After thinking more about this I add as follows
1. The 8 or 9 Million shares with over 60 buyers seems to be an challenging wall to overcome but their is only one reason.
2. This is done by major stakeholders to keep the share price down till after the Pacmag venture goes through. The stakeholders want to maintain the share price ( the numer of shares has already been determined) to ensure they have not paid to much for the tenaments.
3. That is why the shares are placed intentionally at .105 and I think they are held between 5 - 10 shareholders.
4. The reverse is : why would savy sharholders place 9 Million shares on offer, when they know if they pull their orders out this one will fly. Furthermore why are these so called sellers not selling at the market and wanting that extra .5 cents if they think PEN has various problems at hand.
5. All this points to one thing markets are manipualted by the minority at the expense of the majority (see AGY this week which I will not recommend with a 20 foot pole) .
6. To make money in this market is to undertake proper research and hold your ground for little bumps and dumps.
7. People in the know buy when they news is coming and sell on release.
8. Do not be fooled keep your patience with PEN the meeting is only a month away and by June things will move towards above 20 cents.
9. Finally PEN is the only sensible UUU spec share that will double in price over the next 8 weeks in comparison to BLR, and for arguemnts sake WMT.
PEN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
