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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)
VNE 36.950.0%Apr 1 5:00 PM EST
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To: nokomis who wrote (593)2/3/1999 6:23:00 PM
From: David in Ontario   of 974
 
Hi Nokomis...welcome aboard!!

I'm very disappointed in your bid of $1.86 - $2.86 would have been better :)

Yes - the News this morning was solid, but with a stock price at these levels it's easy to manipulate it in the market. However, given the strength of the News this morning I doubt if the whole deal has fallen apart so quickly, especially with Citibank onboard.

I'm also with you in that it is somewhat likely that the price may have been driven down deliberately by larger players wanting to pick up cheaper stock. It's easy enough to do by coordinating a dump through a number of brokers and selling at the Bid - which then may trigger a panic dump by smaller nervous investors who more than likely walk away with a loss.

Time will tell, give VNE another 4 weeks and then we'll understand more fully what was behind today's plunge.

I'm just speculating here on one way to read the start of the sharp drop around 3 PM. The Press Conference may have gone so well (started @ 2:30 PM) that a 'mole' who was present may have given the word to start dumping parcels of stock at the bid in an attempt to trigger a panic dump. What a good strategy - no time to check the facts by those not present at the Conference - yet the share price is tanking and the close for the day in not far off - panic sets in - and boom - sell sell sell. Well, it's one way to read what happened this afternoon.

Hoping to read some debriefs of the press Conference later this evening.

David.
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