T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: Condor who wrote (887)	9/13/1999 7:40:00 PM
From: keith massey	Read Replies (2) of 5053

This trading has been puzzling the hell out of me. During the past 6 weeks we have traded in a very narrow .03-.04 range (.70-.74) but have traded almost 1.5 million shares in this range. Every second or third day the bids start building between .70-.73 and the depth looks weak. Once 20,000-30,000 or more is on the bid, eiher Georgia Pacific or Oldum comes and dumps on the bid in mid-afternoon knocking it back down to .70 but never lower and fills in the bid with 5000 shares orders from .74-.79. These orders almost always disappear the next day and after they knock down the stock to .70 it never goes higher for the rest of the day. Since Oldum's selling came out of the blue and is likely a front I can only assume that the same people are selling for both Georgia Pacific and Oldum since the pattern is identical and the houses take turns doing it. Between GP and Oldum they have sold almost 750,000 in the past 8 weeks. So the question is.... 1. Is someone keeping a very tight cap on this stock or 2. Is someone slowly distributing their shares to the public. If they are keeping a cap on the stock...then why. Another private placement?? A cross is coming?? Ex-directors (Paul K.) selling shares to cash in options?? If they are distributing their shares then why at .70 and not 5 months ago at $1 and above?? Why would they be distributing stock when Haywood and insiders are still holding?? Very very strange. On another strange note...the top net buyers this past month have been Nesbitt and Greenline. Go back and check many of the biggest movers above .50 this year (e.g. BII, MCF)...you will find that Nesbitt and Greenline are almost always the biggest net buyers the month or two before the biggest run. I really don't have a good explaination why this happens since both Greenline and Nesbitt are generally considered retail houses just something I noticed a while back. Best Regards KEITH

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