Arconenergy, Inc. (Long Term Investors and Fundamentals) Message Board

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Gold/Mining/Energy : Arconenergy, Inc. (Long Term Investors and Fundamentals)

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To: Ga Bard who wrote (1118)	5/4/1998 4:44:00 PM
From: Kurt N	Read Replies (1) of 1757

Pretty quiet over here today. I have the feeling that some force is trying to keep the lid on MIDL (in general) and especially on the preferred. Shouldn't be much longer before they can't. Why anybody would sell MIDLP at $14 (last trade) when the bid on the common is at a rock solid base of .625/.6562 is beyond me considering that the preferred converts to common in Sept/Oct 1998. Selling for $14 / 35 = $.40 now whereas if you waited just a few months you would get at least .625 (I think the price will be substantially higher). Or is this $14 trade a MM trying to get the stock (that he didn't have in inventory) at the ask. (bid/ask 13 x 16)?? If it is the latter, why doesn't the MM on the bid raise the bid?? I guess it's a matter of time before the prices of MIDL, MIDLW, MIDLP are all in alignment. MIDLP trading at exactly 35 times MIDL, MIDLW trades at 1/2 times MIDL (once the price is over $1.50 and the warrants are deep deep in the money). I think having more MM's that are in all 3 will cause this. Kurt

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