Hecla Mining(HL) Message Board

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Gold/Mining/Energy : Hecla Mining(HL)

HL 12.76

-0.9%

9:30 AM EST

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To: Roebear who wrote (497)	1/18/2000 3:14:00 PM
From: RidgeRunner	Read Replies (2) of 629

Hi, guys. Been wondering about today's drop myself. I have a theory that may prove dumber than dirt, but here goes. I've seen this phenomenon elsewehere. Today's drop on larger than normal volume may actually be the result of a fund BUYING shares. Since fund managers have a lot of clout when buying in large quantities, they can specify a lower limit order price (or a series of prices) which the stock specialist then tries to fill. When several of these kinds of orders occur, and the price works lower, a lot of "weak hands" (like mine should have been a year ago, sigh...) panic and place sell market orders. Who knows? With both silver and gold up today, there is no other reason I can think of for the large volume - tax loss selling is long over. The one thing that could be the cause is insider selling for reasons that have yet to become public knowledge. Good luck to anyone still stuck with this sick puppy. I've been getting killed for almost 3 years, just looking for a decent rally to bail out and cut my substantial losses. RidgeRunner

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