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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Ga Bard who wrote (1314)5/28/1998 7:08:00 PM
From: John Algermissen  Read Replies (2) of 4142
 
Ga Bard,

I think it's pretty obvious that we saw fear by the MM's today. They walked the price down to scare us into not exercising our warrants. They are afraid because they know that when we do exercise our warrants they will lose their ability to arbitrage their "cash cow".

I guess it's difficult for some people to actually believe in their souls that a penny stock can really have all the things going for it that Arcon/Midland has. Some of those people sold today, hopefully at a profit, albeit small compared to the future of this company. If anyone reading this post is having any doubts about this company and DF-144 ask yourself this: "Has ANYONE found ANYTHING negative about DF-144?" I think you'll agree that the answer is no.

Let's review the sequence of events:

1. Midland gives a dividend on the P and lowers the exercise price on the warrants. Price goes up.
2. Midland announces that Exxon is interested in testing DF-144. Price goes up.
3. Arbitrage enters the MIDL trio. Price fluctuates between $1 & $1.37
4. GaBard, Steven King and others explain that the only way to stop the arbitrage is to exercise the warrants. The price is walked down to discourage you from exercising your warrants.

Today's action confirms to me that GaBard was right and the MM's know it and are doing what they can to keep us down and themselves up. I'm not one of those people that yells "MM" every time something happens to one of my stocks. I think that MM's are given way too much credit most of the time but the scenario we have seen unfold has no other logical explanation. COB tomorrow is the DOR for the dividend on the P and today was the first day to exercise your warrants at $.50 and the price went DOWN? With no news? Think about it, then consider exercising your warrants.

JohnA
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