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Gold/Mining/Energy : Winspear Resources

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To: Intrepid1 who wrote (9056)	11/2/1998 2:50:00 AM
From: bill	Read Replies (1) of 26850

Something I wanted to ask about was about fake bids. I've noticed a number of times that there will be matching bids just before the market opens. Say 8.75 bid 8.75 ask. Closing bid for the day before, 8.25. It looks like the stock is going to run away. A break upward from the previous days close is very bullish. The temptation is to jump in before the rocket goes off. Except that by sitting back and waiting, I see that no sales appear on the screen. When the first trade finally does appear, it's at 8.25 or even lower. The bid must have been pulled at the last second. Was I watching a fake bid? Is it possible that both bid and ask were being made by the same person with the real purpose being the selling of the lot of shares at 8.75? I've heard it said that experienced market players don't buy on the opening but wait. Is it because there's an opportunity for manipulation at the opening?

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