THNS - Technest Holdings (Prev. FNTN) Message Board

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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)

THNS 0.00

Jun 7 5:00 PM EST

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To: Bill Fortune III who wrote (2527)	7/31/1998 3:30:00 PM
From: Joe Senesac	Read Replies (1) of 15313

I would agree that a base is forming, Bill. This stock right now is basing, but is behaving in a funny way that I haven't really seen before (although this is one of my first BB stocks). I have seen time and time again where 25,000 or more shares in a number of transactions are purchased at the ask, but with no change in the ask. Then, a 3,000 share transaction or so at the bid will knock down the bid a couple of pennies. This pattern has been particularly evident at the open for a number of days where we have opened at a certain price with numerous buys at the ask, and then some smaller amount of sells dropping the price. The only conclusions I can draw from this are that (a) a certain perhaps sizable amount of naked mm shorting is occurring in expectation of a price fall. (b) a lack of effect of the mms dropping the bid, as overall we haven't lost much ground forming a nice base at $1.40 - $1.50. Interesting days to come.

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