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Gold/Mining/Energy : American International Petroleum Corp
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To: qdog who wrote (7447)2/19/1998 12:17:00 PM
From: cite   of 11888
 
This is the official explanation - as I am humbly able to paraphrase it - which I received regarding GF's stock sales: GF himself expected the seismic data to be available by January. He registered these shares in Nov/Dec for sale in January (when he thought the price would be high as a result of the seismic data). When the data didn't come and the stock sat at 4-ish, GF could not recall his sell orders because that would have been acting on inside information (his knowledge that the price would go up not in January, but in late February, when, he now knew, the seismic would actually be released). That is, having registered to sell these shares, he could not maneuver that sale to get the best price based on his inside knowledge of when that best price would exactly be.
COMMENTS PLEASE. DOES THIS SOUND RIGHT TO THE EXPERIENCED INVESTORS OUT THERE?
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