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Microcap & Penny Stocks : IGRM- ANY INFO
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To: Charlie Langford who wrote (22)10/18/1996 9:10:00 AM
From: George Burdell   of 53
 
The bid/ask movement has been maddening. After watching it closely for weeks now, I don't think you will go wrong with a buy at 5/8 or under. The MM will lower bid to ridiculous levels, but noone sells. There are sales in the .50s, but fewer and fewer. I think it is people who get scared when the bid drops to .30, so they get out when it goes up again. I think the stock is mostly in strong hands now, although there may be some who bought at .50 and will sell at .80 with a happy profit, and not hold out for the $2-3 level.

Read my posts 8 and 14 for most of my thoughts on the subject. Mark Schultz thinks shorts are behind the drop, IR thinks a large holder dumped to free up cash for faster investments.

Call Investor relations or the company, and if you like what you hear, pick up some bargain stock...
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