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Non-Tech : LUXOR INDUSTRIAL CORP. -- Worth checking out !
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To: xray who wrote (107)7/30/1998 4:07:00 AM
From: Imal  Read Replies (1) of 178
 
I think that the stock is restricted for two years. On Canada Stockwatch the official number of shorts is about 35'000 shares, although it could be 10 times that without showing. I don't belive that at the rate the stock is trading that anyone would put in a million for sale right here.

Like I said, the 90% of the stock is held by either insiders and their kin or by a cohesive group of big investors. The actual float therefore is very small. This is why the stock moves around so much on so little volume. I think the reason it is down is because the speculators who bought last year at a buck are bailing out (or paring down their exposure) for lack of any substantial news and with the idea of perhaps getting back in under 1.00. This is a normal occurrance IMHO and only follows the trading pattern established over the years (see charts). The few buyers which remain (I would venture to guess the insiders et al.) let the sellers take it down to wherever. No sense giving a guy 2 bucks for his stock if he is willing to take a buck fifty or less for it, right? Meanwhile they float around just enough unofficial information on whatever they got going to avoid hassles in case someone sells low, only to find the stock doubling in the next month because of some big deal they had in the works. Run o' the mill CYA.

The stock is weak but on incredibly small volume and could find itself substantial higher on incredibly small volume. This entirely normal for LRL seeing how it is being held.

For precise information on shorts, private placement numbers and restriction etc. I suggest you talk to the company, preferably Terry Lashman.

Your feedback is appreciated.

IMAL
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