Wednesday, September 5, 2007
Vega Promotional VPGM.PK Stable, Range Bound Despite Spam Label
Vega Promotional (VGPM.PK) is up 1.3% to $0.0780 as of a few minutes past noon Eastern. It has been range bound since yesterday's (Tuesday) early trading when it edged lower from the open. Today's range is $0.750 - $0.0850. This kind of stability is fairly impressive considering the recent spike in volume, as a result of the widespread stock spamming. It shows either that there's some accumulation at this price level or there's a near balance of profit taking on new buying. It seems safe to assume a few cents to the upside (a huge move in percentage terms) would result in quick selling. The velocity of selling will determine how low it settles and whether the pump scheme comes undone.