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Gold/Mining/Energy : BLACK HAWK (TSE:BHK) -- Ignore unavailable to you. Want to Upgrade?

To: gilbert leblanc who wrote (270)	9/18/1999 8:24:00 PM
From: Steve Johnston	Read Replies (1) \| Respond to of 545

Given your credentials, I am surprised that you have totally missed my point. When someone runs into an overall margin problem in a large multi-stock portfolio, the first thing they have to sell are precisely those stocks which have no margin value, i.e. under $2, as you correctly state, like BHK. In fact, your broker will be instructed to unload them, without your permission, if you cannot come up with some quick cash. Ever notice how they are "segregated" on your statement?. An example might be someone who loaded up on several totally marginable high flyers, and paid only 65%, holding the rest on margin. At the same time, they owned large amounts of a few penny stocks. When the high flyers go for a tumble, you get your margin call , and if you can't fix it yourself, your broker clears out the penny stuff first, AT ANY BID PRICE. Get the point, now? Your other comments are well taken. Regards.