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Gold/Mining/Energy : Nuinsco Resources (NWI)
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To: Buckey who wrote (2150)3/22/1999 9:39:00 PM
From: Gord Bolton  Read Replies (1) of 5821
 
I think that someone already posted the most likely cause of action on the price today.
1) People were expecting news today and positive news today.
2) Many people have accounts where they have three days to settle.
3) Many people were holding the stock in margin accounts where the stock must remain above $3.00 or $2.00 depending on the broker.
4) THere was no news today, good or bad.
5) There may be no news till next week.
6) What to do? Some had to sell. Some choose to sell. Then more had to sell. Some sold because the price was going down. Because the price was going down it triggered stop loss orders and the avalanche.
7) Each share that was sold was bought by someone, but more wanted to sell today than wanted to buy.
8) The geology has not been altered by the market action.
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