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Microcap & Penny Stocks : LASERPACIFIC (lpac)
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To: Bill Fortune III who wrote (437)5/24/2001 9:05:56 AM
From: Dale Baker  Read Replies (1) of 542
 
Hi Bill - that is fine and normal, profit takers sell to new longs enthused by the increase in the price. My fears were daytraders panicking longs into selling as the bid/ask jumps around ("Oh my God, I better lock in some profit now 'cuz it's DROPPING!!!!") and overhead, i.e. old longs hanging in to get out at break even.

But I think the overhead was zapped in tax loss selling last December. We will see today if the traders keep us up in mid-3's. If we get another run today over 4 it would be very normal to see some profit taking there.
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