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: marcos who wrote (1297)	10/29/1999 12:57:00 PM
From: keith massey	Read Replies (1) \| Respond to of 5053

Hope everyone just saw that last trade! There was a cross of 70,000 at the offer (.76) performed by Haywood. Now might be one great piece of news. The last time Haywood did any large crosses was back at the lows before our last run. In my experience these crosses are normally done for two reasons. 1. When a group is trying to accumulate shares they will often get them in large blocks (crosses) from "weaker" hands that have been holding the stock for a while, often at higher prices. Although the group accumulating shares gets the shares from the "weaker" hands for a cheap price they will often pay off the "weaker" hands in other ways (future favours) or the "weaker" hand will benifit through large tax loss rebates, mutual funds not showing a year end loss, etc. I suspect all the crosses involving Haywood at the lows in Now/98-Jan/99 was this type of accumulating. The other reason crosses are often performed is to position an individual that will be taking part in a promotion. These type of crosses are often performed near the lows right before a promotion. Anyone following Canaccord will see this type of cross before a run on almost a weekly basis. Since Haywood has probably already shaken out all the "weak" hands I can only assume that this cross was done to position someone. Best Regards KEITH