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Gold/Mining/Energy : American International Petroleum Corp

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To: John Q Binford who wrote (9263)	11/7/1998 10:24:00 AM
From: DRRISK	Read Replies (2) of 11888

Thread, I tend to agree that after hour trades around the ask are no big deal unless they are a large block execution, but I do agree that Monday should be an up day. If news comes (HaHaHa) then it could be a huge day. Here's why from the FWIW-IMHO category. The natural tendency for traders to bail on Friday should have taken this issue well under $2.00. The fact that the predictable bail at $2.00 occurred was no surprise but I watched into the last hour to the close since I feel that it says allot about a stock in transition. Well what I saw was that JPTC (J.P. TURNER & COMPANY) out of Atlanta and REDI (SPEAR, LEEDS & KELLOGG/ECN) and ISLD (THE ISLAND ECN) were doing all the selling. JPTC acquired a huge position around $1.00 and who could fault the Atlantan for a double in less then a month, a truly smart trader. Now the other two sellers are pure daytrading dudes and they are greedy not necessarily smart, but you have got to love them and respect them for their entrepreneurial spirit and contribution to market liquidity. All this ultimately means nothing except that in the last half-hour a very very smart accumulator who remains unknown because of his stealthy ways went to work. Well this stealthy guy or gal acquired everything they could get their hands on from the above anxious to profit crowd off the ASK. My count is that this intelligent fellow acquired a 150,000-share stash in that half-hour that was bought at 2, 2 1/32, 2 1/16. Their presence was felt during the day buying off the ask but it was very clear into the close that they had no regard for price and that they wanted every share that the trading crowd could offer. So this, FWIW, tells me that the first set of profit takers are history. Consequently, we are staged to go higher because someone in the know is taking their shares and does not care about this price which points to an Institutional type because that is how they do things when they are buying. DrRisk sleeping well in my field of dreams.

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