Manhattan Minerals (MAN.T) Message Board

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Gold/Mining/Energy : Manhattan Minerals (MAN.T)

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To: menanna who wrote (2881)	7/6/1999 3:00:00 PM
From: Andrew Cook	Read Replies (1) of 4504

Anna: At any given instant in time, a stock's quote should generally reflect the fair price given the relationship between the number and volume of shares on the buy and sell sides. Usually, without extenuating circumstances the closing and opening prices are relatively stable. However, when unusual circumstances occur, there can be tons of sellers and few buyers. Market Makers (these are the guys "theoretically" responsible for ensuring orderly markets) look for a balance between buy and sell orders before beginning trading. What happened this morning with MAN was that the News released before the open triggered many people to become sellers. This is not particularly surprising given the somewhat debatable impact of the news released. The Market Makers kept looking for a price where some buyers would come in and absorb the selling and the result was that the stock opens the morning at $6.75. I'm not certain what your brokers arrangement with you was on the sell. However, market orders under the circumstances that occurred this morning often result in just what you describe. Regards, Andrew

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