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Gold/Mining/Energy : Ultra Petroleum (UPL) -- Ignore unavailable to you. Want to Upgrade?

To: upultra who wrote (4396)	9/14/1999 2:23:00 PM
From: Hickory	Read Replies (1) \| Respond to of 4851

Riker, The pattern during the past few days has been that most, if not all, the large buys (regardless of their composition) were at the ASKED. Even though in several cases during the past few days the sell side may have been comprised of a lot of little guys, the MM executed the trade at the ASKED. This large trade was executed at the BID. Regardless of its composition, this trade was a departure from the pattern that held during this past week. Was this just the MM trying to turn the tide and tilt the movement downward so he could replenish his book at lower prices? Or was it someone or a number of people who, like Elizabeth Andrews (or was it Liz herself), read the action and rightly induced that the buying pressure had evaporated for now and it was time to sell? Because of your bullish bias, you can't believe that any large holder in his or her right mind would sell here. Not everyone shares your bias. Some, like Elizabeth Andrews, bought at lower prices and believed, from viewing the action yesterday, that this is as far as this run-up is going for now and it was time to take some profits (and pick up the shares again at lower prices). Or, maybe, someone figured that UP's directors and maybe even UP itself could come out on the short end of the stick on at Friday's hearing or thereafter. We don't know. What we do know is that the pattern that had been in place for large trades the last few days was broken. Riker, please don't let your wishing for a return to the prices of early 1998 or better prevent your seeing the realities. I would love to see my shares double from where I bought them, but the realities at this time don't warrant that.