Interesting volume spikes precede rise in Lifeline Biotechs (LLBO)
Today's Financial News - Posted July 23, 2009
Who’s been trading Lifeline Biotechs Inc. (LLBO)?
by J. Christoph Amberger
Baltimore, MD — TFN: Far more interesting than todays 88% gain in Lifeline Biotechs Inc. (PINK:LLBO) are the unexplained volume spikes that preceded it in the days and weeks before.
As early as July 16, Transworldnews.com had picked up on these movements:
“Lifeline Biotechs Inc (PINK:LLBO) advanced 25.00% to $0.0010 on no news. Lifeline Biotechs Inc is a medical technology company developing products focused on prevention, early diagnosis of cancer using innovative technological applications for oncology.”
The key phrase here is “on no news”.
In fact, the last bit of news about this penny stock dates back to May, when the company announced it was “preparing for a filing with the FDA for the Company’s First Warning System, a capable process designed to assist in the early detection of breast cancer.”
Preparing isn’t filing, and filing is a long shot from trials, and trials are a long shot from approval.
Insider transactions are currently hard to track. But over the years, there’s never been a better indicator for insider activity than volume spikes on no news, initially with no measurable effect on the share price.
Sure, this is a penny stock with a miniscule float, subject to wild fluctuations on volume that wouldn’t make a better capitalized stock twitch.
Still, I have a hunch that there’s going to be news out on this stock soon. It’s either an actual filing… or maybe even a corporate take-over. Or it’s a pump-and-dump… although at this point I see no tell-tale signs of active promotion.
Speculative investors should keep an eye out for the next volume spike. It looks like the next move will be either a steep ascent… or a crashing descent.
http://www.todaysfinancialnews.com/u...llbo-9613.html