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Technology Stocks : Barringer technology (barr)
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To: Robert G Allen who wrote (472)2/17/1998 8:08:00 PM
From: Sparky Beardslee  Read Replies (1) of 652
 
How about this! The market is about to open this am much higher. The futures are up .6 indicating a +50 pts. open. So what does the mm on BARR do? They lower the bid from 13 1/2 to 13 3/8. Then lowers it again before the open to 1/4. All this to scare in sellers right at the open. They do NOT get any takers, so THEY sell 200 shs at 13 1/4. This does bring in sellers because at this time the market is up 65 pts., the OTC gapped up 11 pts. But BARR is now down 3/8. This brings in more sellers. They only show small trades, giving the impression that vol. is light and no one wants to buy. This brings in more elling. What we do not know, is, they are putting together large blocks from investors who are selling. Near the close they post four large blocks, all at or under 13 3/8. They can do this by keeping the stock lower all day. It is a crying shame. Traders are ruining this stock to the point that legitimate investors stay away. This stock has traded over 30 mill. shares since last August. They only have
3 mill tradable shares, so you tell me who is in control. I don't care how positive the news is that is coming from BARR, it doesn't matter, the price will remain the same while the pe moves lower. I invision a PE of 5 in two years with a price of $13.

Sparky


The good news, is they are going to push the stock up tomorrow, that completes the cycle. The question is, will they be successful in keeping the stock below $14.625 during earnings release?
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