FRANKLIN TELECOM (FTEL) Message Board

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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

FTEL 3.320

+9.8%

Jan 15 3:59 PM EST

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To: Michael Dickerson who wrote (2215)	1/17/1997 1:14:00 PM
From: topwright	of 41046

Michael, this is how it works. Think back to yesterday the quick drop on low sell volume. At that time I told you that they would quickly bring the market back to what I thought was the real market price 2.38. Today you see trade after trade go off at 2.31 yet the price holds. Why? Because it short covering (buying not selling at 2.31) then a real sell order came and they used it to drop the bid to 2.25. Anything to be able to cover at lower price. The real question is what is causing them to be in such a rush to cover up here at 2.25, unless of course they are afraid that it is going higher. Monday could easily bring in a slew of new money and they know they could get caught flat footed. Also there is a good chance that they have gotten word of some new market makers comning in, and since they aren't part of their "in-crowd" that brings doubt upon what was a sure thing before. RB

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