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Microcap & Penny Stocks : Rentech(RTK) - gas-to-liquids and cleaner fuel
RTK 0.200+5.3%Oct 13 5:00 PM EST
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To: Howard Williams who wrote (7643)8/19/1998 5:56:00 PM
From: Micropicker  Read Replies (2) of 14347
 
New MMs in town? Possible quite good news.

Eons ago, as RNTK struggled to return to $1 a share, I put in an order for a few thousand shares at 15/16ths. When the ask price hit 15/16ths and lingered there I thought I had my shares. Just before the close I called to confirm and discovered that my broker had just become a MM for RNTK. I quickly told them to change the order to 31/32nds, and I got filled. Apparently when my broker became a MM they had to include the commissions in the price when filling limit orders. One month after I got my order filled, the price of RNTK busted through $2.50.

My story aside, it may be more than a coincidence that you are seeing new MMs on board. I am sure my brokerage firm jumped in so that they could accumulate shares at a cheap price, while keeping their ask high enough that they didn't have to sell any shares. A month later, they were able to sell what they had accumulated for a pretty fair profit. Coincidently, they stopped being a MM for RNTK a few months later when the price dipped to 1-5/8ths.

If new MMs are showing up on the radar screen, then I would interpret this to be a fairly bullish sign that another possible breakout is near. Food 4 Thought.
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