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To: Ellen G. (10262 )
From: Riley G Sep 29 1997 7:09AM EST
Reply #10333 of 10535
Date: Fri, 29 Aug 1997 09:17:30 -0500
Subject: Ovis Cartel
Riley, I appreciate very much that you have been gracious enough to post a couple e-mails to SI for me. Frankly, prior to OVIS, I felt no compulsion to join SI, and now I must wait two weeks to post there.
There have been some speculation on this and other threads that the Cartel is in some way illegally manipulating a price. I would like to dispel that rumor. Legislation under the Securities and Exchange Act was directed at Sindicates (not cartels). Their destructive practice was to accumulate based on insider information, shared through a network of good ol' boys that were privileged bankers, ceos and the like who withheld information from the public if it suited them in their accumulation phase, and then distributed into weak hands.
That illegal practice has nothing to do with grass roots enthusiasm for a stock, sharing of public information and opinion and certificate calling. Don't be so nervous people. The Ovis Cartel's actions are virtually the OPPOSITE of the actions of a syndicate. Can the paranoia. Every armchair lawyer in SI land wants to sound like a personal friend of the SEC.
I was looking for a historical precedent, and though I haven't compiled a massive list of successful squeezes, (no time) I like the example of Northern Pacific. Overvalued at 110, it shot up to one thousand dollars, a bears worst nightmare. What is most interesting, is that after the squeeze, it didn't tank back to or below it's pre-squeeze price, and didn't fall below three hundred. In terms of dollars per share this is a massive increase, in terms of percentage gain, it is only an extra thousand percent or so, oh well. Ovis is a different animal of course, actually more ripe for growth than an over valued large cap. Many would like to scoff Ovis faithfuls hopes of large gains, but they fail to realize that these situations are common in the generalities of remarkable companies. This is exactly how small companies become big companies. Watch it happen. Better yet, come on board.
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