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Strategies & Market Trends : Value Investing
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From: geoffrey Wren10/13/2011 12:47:28 PM
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Re: FKWL

This wireless modem maker was mentioned a few times on this board. I took an initial position, now down 50% or so. So, as in poker, when you are raised, generally you should either fold or reraise, and I decided to get more. It is more or less trading at cash value now. While their business has ups and downs (and recently down), management seems to have a history of being adept and will likely come out with new products that sell. And they do seem to handle their margins so that even when sales decrease they still make a profit.

So yesterday I put in an order to get 5000 shares when the spread is 1.23 x 1.25. I fill 2000, and then the spread goes to 1.23 x 1.40 and stays there the rest of the day. Today the spread reverts to 1.23 x 1.25 in the morning. I get a partial fill, and again the spread goes to 1.23 x 1.40. About 30 minutes late I complete the order at 1.25, and the bid ask is back to 1.23 x 1.25.

I suspect there is a large seller at 1.25 selling by a program. In case anyone wants to buy some.

GTW
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