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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: CF Rebel who wrote (1893)11/15/1999 9:00:00 PM
From: keith massey  Read Replies (2) of 5053
 
CF

I don't remember saying anything about institution(s) buying and if I did it was a mistype. It is very possible that institution(s) were on the buy but I see no evidence either way to support or refute this claim so I am staying neutral. If I had to guess I would say many institutions would not do any large buying until after the plans have been announced which means there is a lot of buying still to come into the stock.

2. Are there many institutions willing/allowed to pick up shares priced this low or do we have to wait until the company breaks some "barrier" price-wise?

Although I don't think there are any restrictions on price many fund managers and institutions do have "magic numbers" that a stock must be above before they will buy. This could be 0.10,$1,$3,$5,etc. it all depends on who you talk with. I know that several several investors will not buy a stock in Canada until it can be margined - $3 with Greenline and is on the TSE. Other people won't touch a stock unless it is over a $1...other $5. Each price barrier we break should bring in another group of buyers. Personally I think this is a stupid way to invest and will buy a stock at .01 or $100 if I think the risk/reward on the trade is right, however this is how the world works. You can be sure that the break through a $1 brought a whole new group into the stock last week.

Best Regards
KEITH
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