This is topic ETIM-Extremely short position, MMs covering now!!! in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.
This stock has been manipulated in an extreme way. Last week after they announced a NOBO list was being made the MMs took this down like butter. I watched people sell and the MMs step aside as the sellers chased the stock down on air. On Friday the company issued a PR stating that on their web site management had placed a message to shareholders:
INVESTOR BULLETIN...
Eternal Image officers and senior managers would like to assure our stockholders that we are working diligently to design and sell quality products. Our Company was founded on principles of integrity, honesty, and hard work. At no time has any officer or manager of Eternal Image sold even one single share of Eternal Image stock.
We believe that an organized program to short the stock is responsible for the devaluation of Eternal Image stock that has been occurring recently.
Eternal Image does not engage in “pump and dump” tactics nor will it ever engage in similar tactics
After this bulletin came out, the MMs started to cover in a big way, sucking up all the shares they could. Unfortunaetly it was Friday and didn't get enough action, and once it cooled a little and the MMs realized they weren't going to get royaly sqeezed, they started playing their games again, but luckily some of the MMs were smart enough to know the game is up and continued to buy up shares. Today we ended with a higher low and it looks like were at the reversal point. This should be a 3 bagger from here, IMO
Posted by GVMOORE on :
Hope your right. Got hammered bad on this one. Tried to average down the last two. Can't get a fill at 10. Moving up to 12. GL