GLGS

[David Randolph]

Glycogenesys, Inc. (GLGS). The Group's principal activities are to develop pharmaceutical products based on carbohydrate compounds and related technologies. The Group has developed a drug called GCS-100 aimed at treating multiple forms of cancer.

I'm sure we're going to read many bullish news from GLGS in the next few days, like the one we had on Wednesday: New Discovery Provides Mechanistic Picture of How GlycoGenesys' GCS-100 Targets Malignant Lymphoma Cells And Induces Cell Death

This company needs to be listed on the Nasdaq, its survival and prosperity depend on it. The Nasdaq Exchange has this rule: «Nasdaq Marketplace Rule 4310(c)(2)(B), which requires listed companies to have (i) a minimum of $2,500,000 in stockholders' equity, (ii) $35,000,000 or more in market value of listed securities or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.»

Nasdaq wrote a letter to the company saying that as of June 30th it must have at least $2,500,000 in stockholders' equity in order not to be delisted. Checking GLGS's 10-Q we can see that the company had just $613,702 in stockholder's equity in 31 March 2005, when it was quoted at $0.77 a share.

With simple math we can conclude that GLGS needs to get to $3.13 a share in order to have the desired and obligatory $2,500,000 and needs that stock price until June the 30th.

That's why, I believe, the chart looks like this:



Insiders and current shareholders are pushing the price up to meet the Nasdaq's requirements as of June 30th. I think they're gonna make it, they just got a lot of money:

GlycoGenesys, Inc. Closes Second Tranche of a $6,500,000 Equity Placement to Institutions and Accredited Investors; Second Tranche Represents $4,500,000 in Gross Proceeds

Every news from the company will be bullish in the next few days ... expect a lot of euphoria  to hit shares, as insiders and specially actual shareholders (that certainly don't want the company to be delisted) will search for help in this task ... and I'm going to help them buying  GLGS at tomorrow's open.

Everyday I will analyze GLGS after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.

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[stocky]

Glad I took position in it on Friday. With RSI at 91, you can expect the kind of momentum it showed. No doubt about its forward climb.

[stocky]

20 up days in last 25 days. Friday volume explosive 2023% the average.

[agatto2]

Hi Dave

   i am curious, how does a company shove its shares higher? I can thinks of a few ways, (dont know if they are right) like offering higher bids on the stock, are their any other ways, limiting stock, buying more stock , lots of news like you mentioned ? Then my next curiosity is why they would not do that in the first place? I guess i cant figure out the mentality of the market and it kinda bugs me.    thanks   tonyg

[David Randolph]

They can do it on a short term basis, not long term or there would be no purpose for them in being a publicly traded company.

They can buy back shares, insiders can buy, make optimistic press releases to attract buyers ...

Check the IIJI post where there was a similar situation (although for different reasons).

[eagerlearner]

wow David u are amazing, how did u find out the subtle story behind it? 
would this become a pump&dump after the end of the month? would they get investigated for the jump of price?
Thanks !  Love your advice !

[David Randolph]

wow David u are amazing, how did u find out the subtle story behind it?
would this become a pump&dump after the end of the month? would they get investigated for the jump of price?
Thanks ! Love your advice !

Lol, not amazing, just spent some hours reading things about the company ... off course, the chart had to be right or I wouldn't even look at it, it wouldn't show up on my technical filters. And remember, there are no sure things in the stock market, this analysis can be wrong. But there are plenty of reasons, technical and fundamental, to speculate on it.

«would this become a pump&dump after the end of the month?»
Shares will probably fall after the end of the month.

«would they get investigated for the jump of price?»
After what I've seen in IIJI, with the stock rising from $2 to $13 because of an IPO that never existed, with the company misleading investors (but in a legal way), I believe anything can happen ... manipulation has been in the market for centuries 

[bob839usa]

David, can you please change the program so it quits posting TODAY.  No way to tell anymore when TODAY is   I find some two weeks old. Please just have it post the current date.  Thank You , Bob

[Ramsburg]

David, can you please change the program so it quits posting TODAY.  No way to tell anymore when TODAY is   I find some two weeks old. Please just have it post the current date.  Thank You , Bob

Hi Bob,

When you are on the topic list, the date is the date of the last post on the topic, I mean the date of the last reply to the topic.

This board is working with NY time, but if you are on another time, you can ajust it to your time, going to your Profile, then «Look and Layout Preferences», then change the «Time Offset:» to your local time by adding or subtracting hours.

I hope this helps

best regards,

[bob839usa]

Thanks Ramsburg, I understand that.  But for the sake of continuity why not have it just post the date?  Huuuum?  Bob

[eliteG]

hey bob,

wanted to say I think the current design(for the date) is very intuitive and efficient but if you are saying that maybe an overall start date should be visible...then that might be a great idea 

GLGS is showing massive positive moneyflow.  It was on my screens as well   Looks like an excellent pick David.

Goodtrading 

[jeff46902]

I've heard the term "moneyflow" several times before.  What does that actually refer to, and how is it calculated?  What is the significance of moneyflow to a stock?

[eliteG]

When I use the term moneyflow it means that these indicators look good: MFI, ACC/DIS, OBV, CMF  (for definitions and how to use: http://stockcharts.com/education/IndicatorAnalysis/index.html)  This is not the case for every trader.

chart:

[Adam]

Going in MKT or putting a limit order??, seems to be bidding higher.

[David Randolph]

Bought GLGS @ $1.85