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Gold/Mining/Energy : UFAB - oil drilling deck fabrication -- Ignore unavailable to you. Want to Upgrade?

To: Platter who wrote (186)	12/3/1997 12:14:00 PM
From: andrew r harwood	Read Replies (1) \| Respond to of 337

Well it hit 17.5 today and recovered ,volume is still enormous,it would be interesting to know what the total volume traded of unifab since it was listed probably 10times the total shares outstanding.as i said before there has been no insider selling to my knowledge .the principals in the company are very optimisticabout its long term future.they have lots of orders etc .i think the fundemental problem with unifab was that it was overhyped and went up way too high too fast for no fundemental reason .i think a lot of short term speculators jumped on the bandwagon to make a quick buck and now the same people are doing the same on the downside by shorting the stock .in the long run the fundementals will take charge but now its in the hand of the speculators who have no interest in the company .someone must be churning the same stock several times a day to create suchhuge volume on a stock with only 4-5million shares out,it really should be trading only 5-10,000 shares per day .hopefully the speculators will move off to another target. in my opinion this problem could have been avoided if the underwriters had distributed the shares more fairly to small investors who would have held the stock as a long term investment .instaed none of the little guys got stock to buy and hold and instead no doubt the stock was allocated to the big guys who are just interested in short term trading.in england for example when there is an oversubscribed ipo everyone who applies for shares gets some stock in proportion to the amount theyapply for with a bias towards letting the little guys obtain a larger proportion and the bigger guys less.this is a much fairer system than the closed system here .arh