Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.847

-1.2%

Nov 14 9:30 AM EST

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To: Yamakita who wrote (7506)	9/10/2000 5:38:01 AM
From: Bill Wexler	Read Replies (2) of 10293

It sure is liquid enough for a small investor wishing to trade a few hundred to a few thousand shares at a time. I bet if I unloaded 5,000 on Monday morning (not that I intend to!), I would get the current bid for the whole block. The action may be quiet for now but I am sure that the MM will find a buyer. By the way, someday someone will have to do a real analysis of what constitutes "true" liquidity in individual issues. There are certainly extremes (obscure companies that may trade a few hundred shares a day or less). Somehow liquidity seems to go out the window on "hot" issues which may trade in the millions of shares per day. I remember a few months ago when trading SVNX (with an avg. daily volume in the hundreds of thousands of shares) that an order to buy 800 would magically raise the ask a buck and would take several minutes to execute. I am confident that PRXL is a good idea. Don't let the low volume put you off. It should be seen as an opportunity to accumulate it at a very, very reasonable price while the rest of the world is distracted. :)

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