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Microcap & Penny Stocks : SIIS (Struthers Industries)
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To: T Bowl who wrote (432)7/16/1997 7:03:00 PM
From: chris431   of 709
 
Sold my position today. It did bounce nicely off of $1.03. Was anyone watching the trades? It either could be another sell of after a run up like last time (which I believe is initiated by a few trading firms manipulating the stock) or it could have been MM's or those firms simply wanting to knock out stops and scare others into selling so that they could run it up again (except off of a higher base). Who knows? I'm just hoping it goes back down so I can repurchase at a much lower price. Wish I could short it but my broker doesn't allow shorting of stocks below $5.

Besides this disappointing fall (sure wish it would have continued up) I recently read an interesting article in July 7th's Business Week titled "In Bonds, the Junkier the Better." It basically discusses the increased market interest in junk bonds and the fact that even the lowest rated bonds are being invested in. In notes telecommunications companies as being one of the bigger offerers of some of these junk bonds. Could Struther's be thinking of this. It sure sounds as if they fit the category: "Companies, many of them little-known and inexperienced...." "27 new issues have come this year with Caa ratings--which is a near fefault rating...."

If they aren't, maybe SIIS should be thinking about this.

Any comments,

Christopher Hinton
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