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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Ga Bard who wrote (2097)6/1/1998 4:04:00 PM
From: Jay Lowe  Read Replies (1) of 4142
 
So, it looks like the split is proceeding to out work in our favor.

As I mentioned before, with MIDLP at $18-$20 we are seeing an effective 20% increase over the pre-split close of $22.

Looks like the warrants are settling down too ... about 1/8th off
the common considering the exercise fee. The volume is the same
as at the frantic peak of last week ... maybe even a bit more ... but the MM's are running the spread very tight so far.

If this was a Microsoft 2:1 split, MFST would close at (e.g.) $120
and open the next day at something just above 60 ... say $63 or something.

But this is not MSFT ... it's MIDL ... and both the issues and people's UNDERSTANDING of the issues is less cut-and-dried.

So, it looks like we win nicely so far.

I was afraid MIDLP would close @ $22 and open @ $15.

Heck, those that *understand* MIDL want all the prices to go DOWN,
so it's cheaper to get more! Funny to be holding this position and
rooting for it to go down some more ...
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