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Microcap & Penny Stocks : KAFE (Country Star Restaurants)
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To: ChrisJP who wrote (549)1/9/1998 1:27:00 AM
From: Ken W  Read Replies (1) of 876
 
Chris,

Good evening. Your referenced trade? Did you complete your trade over the net. If so, you are not in "pink sheets land" Pink sheet stocks can only be traded with the assistance of a broker as they have to contact their MM to find a bid and ask. In speaking with a broker at Schwab (I know that you trade with them) He, Dave Reynolds (Denver) said that all trading in CAFE was OTC. That means over the counter.

The majority of the volume we have been seeing the last few days has been, IMO, share shuffling between MM's to adjust their inventories and some short covering. The short position increased nearly ten times Nov to Dec. Next months numbers should be interesting, I just bet they will be decreased.

Remember when LUNN/ATPX occurred? We could not get any information from either company during their quiet time either. I could be all wet, but given the fact that the day's high was 1/16, I can't help
but feel that there is some interest in the stock.

On the Yahoo they are talking about D13 filings. The only ones I can find are dated 12-96 and as you well know are non events...They simply are required if someone acquires more than a 5% stake, not 20%, in a company.

I guess my main point is...I'm amazed at some of the conjecture and rumor that occurrs on the Yahoo board. Statements like buy............................................................are, indeed juvenile. Let's hope that it does not bleed over to the SI threads.

Ken W
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