International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: kimberley who wrote (22020)	10/9/1997 10:30:00 PM
From: go4it	of 35569

Kim, <<o.k., then several individual shareholders with more than 10k shares had their stops hit and were sold out... I'm not sure I follow your shorting mm theory. Are you saying that no one actually sold those blocks. but rather someone was buying them, and the mm's short sold them? >> Yes, I am saying that someone was buying them. Whether they were sold by shorting MM's or someone else doesn't matter because someone was buying them. Bruce Mc sends me the telescan report occassionally and he has also sent me a history of it. I don't look at the % owned because we all know that is screwed up but I do strongly believe the number of shares and the number of institutions. This data has shown an increasing holding in shares by US institutions through out the year. I also know of several people that had their margin shares ripped out of their hands so to speak which I believe also accounted for quite a few of the 1000's shares sold. I am basically going off of history where people have had strong beliefs that funds were selling when it actually wasn't the case in the past. In addition there was MVeit's post regarding bad rumors floating around the MM's that originated from the shorting houses which I think was doing little more than setting the stage for a new round of shorting in order to take out the margined shares. I will write Bruce next Monday and ask him if there were any changes in institutional holdings for this week. There were none last week. At least that is what I see. Maybe you will be able to help Jack keep us informed now that you have your new level II computer. That would be great if you could. Chuck

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