Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (930)	9/20/1999 4:14:00 PM
From: keith massey	Respond to of 5053

Well JDX sold for 50% cash last year ... who knows Thought I would repost this one<ggg> Anything could happen, however the reason JDX was allowed to drift down to last years low levels (large cash discount) was so insiders and "friends" could load up on cheap stock relatively easy. Last year JDX purposely didn't do any promotion and didn't release any positive spin on the stock (e.g. no mention of the new business direction) so it would drop and allow them to load up. With no new spin or news last year disheartened and bored shareholders slowly unloaded until it drops down to ridiculous undervalued levels of .40-.55. This was the level that many of the "friends" of the company started buying. Back in Dec. when the stock was at .45 I wrote How this one ever got to .31 in August I will never know. The thing that still puzzles me is the huge block (100,000+) that keeps showing up at .50-.55. I want to know who is trying to keep this stock down and why??? Message 6906032 Anyone following the stock back then will remember that for a 6 month period last year, any time the stock got near .55-.50, a huge block of 100,000-140,000 would show up on the offer. The retail public would see this block, get scared, and sell their shares to the insiders and "friends". Of course the "friends" probably helped the scare a little by dumping a few shares here and there whenever the stock started to show any strength. They were able to keep the stock in the .40-.55 range for almost 6 months. Looking back now it is easy to see them accumulating shares in this area. Over 8 million shares traded hands in the .40-.55 range during that 6 months period.....most of them probably sold by the retail public at a loss. It is impossible to know how many shares the "friends" accumulated but many of them can be traced back to the source (more later). Of course I was also lucky enough to also be "accumulating" during this period, I don't get scare off by manipulators that easy <ggg> So the reason the stock was able to sell for a prolonged period at a large cash discount was that JDX and stock manipulators held it down there. JDX didn't promote the stock and "friends" sold off shares to initially get the stock down to that low level. Once down there, the "friends" held it down and JDX didn't release any news which allowed them to slow accumulate large amounts of stock. Now the good news is that both the insider and "friends" seem to have had their fill of stock. The insider bought just over 4 million in the .45-.65 level. It appears that the "friends" accumulated at least 3-4 million shares down there (and are now accumulating more). However with the multiple accounts and some of the stealth tactics these guys use it is very hard to trace all the buys and sells and they likely accumulated far more. Best Regards KEITH