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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: space cadet who wrote (17)7/30/1996 8:30:00 PM
From: DDS-OMS   of 6467
 
I've been buying TTRIF recently, 20K @ 1.75 and 2600 @ 1.53 [IRA], so have 32.6K now. Dont know why its being beaten down, other than almost all small caps with no earnings are being hit hard, so maybe the MM are using that as a reason to shake out weak longs. Cant see a BK--it got $8 mil on sale of conv debs in Feb and $9 mil line of credit last fall. Who knows where bottom is, vol is heavy--today 3X average daily vol of 75K. Lombards intraday graph shows light vol between 12:50 and 2;30, yet the stock dropped the most during this time. Perhaps the MM drop is on low vol, then cover shorts at barely higher prices on high vol. Last summer TTRIF was on restricted list--meaning no one could short because short position was huge & MM had to close out shorts in 10 days. All they did was trade among themselves and thereby maintain short position. IMHO the professional shorts have knocked it down to here and will soon pop it to 3.5-3.75 and do it all over again. The 2 previous times it was at approx. 1.5 [Nov 95 and Jan 96] it spiked to 3.75 within days, so I doubt if you will see much of a basing period. If you're thinking of buying, I would enter orders of only 1K at a time-all or none-and lower price on fills if it continues to drop. It took me 4 trading days to fill two 1300 share orders at 1.54 [1 17/32] even tho the stock traded at 1 3/8 and 1 1/2 many, many times so those trades were obviously less than 1300 share lots.

Good luck!
Gary
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