Westfort Energy Ltd. (WT-T) Message Board

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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T)

WT 11.59

-0.6%

Nov 7 9:30 AM EST

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To: M. Merriam who wrote (785)	7/16/1998 11:50:00 AM
From: bhg	Read Replies (3) of 1288

Hi Mike, Nice to hear from you again. I'm sorry I said "brokers" but I meant "traders". Traders get their orders from brokers and execute the trades for them with other traders who either get orders from their brokers or trade for their own account ("market makers"). "Taking out" stop losses is done all the time and it is legal (they are executing a customers order). The way they do it is to execute sell orders before the buy orders. If the stop loss is close enough to the market then they dip it down and take it out. Then they execute the buy orders and the stock pops back up. This is quite common. If you were a market maker in a stock and you had an opportunity to take someones' sell order and buy it at a low price you would do it too! If you don't believe me try it. Put in a stop loss order at a price close to the market and I can almost guarantee you that it gets taken out on a real quick short dip to that price. Grant told me the stop loss was for 60,000sh. I didn't ask his source but give him a call, I'm sure he'll tell you. I'm sorry for any mix up about the brokers and traders and I hope that this clears that up. From a thread placed yesterday...The brokerage firms accumulating WT are Merrill Lynch in SF, A.G. Edwards in St.L., Tucker Anthony in NY, and another one in Fl. (I can't recall the name at the moment.) Thanks Mike, Best Regards, Bruce

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