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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: David Culver who wrote (528)	9/12/2000 12:09:52 PM
From: Goldberry	Respond to of 11633

Bought in again at $9.05. Couldn't wait to see if I could get it a $9.00 because I leave on a trip this p.m. I still think it will trade below $9.05 before settlement day which is probably after the monthly x dividend date. A savvy investor advised me once when I looked to buy on an issue of a different reit that I should sign up for the issue but place an order for them at .10 cents under the issue. If filled you can cancel the new issue which isn't binding until you have been provided with a prospectus. I didn't bother and sure enough it traded .15 lower. When I asked him why this would happen he said he had it on good authority that the brokers hold a portion of the issue for themselves and sell into the market just to get it out quickly and save the hassle of mailing prospectus out etc. They are making about .30-.50 share and so they win anyway. I deal with TD and when I called first thing this morning I was told the book was closed already. Maybe someone who has the Stockwatch option can see who has been selling today. A lot of stock has gone for $9.05. Why would retail investors be blowing it off at this price.