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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: C who wrote (447)	4/27/1998 2:12:00 AM
From: bill	Read Replies (1) \| Respond to of 1288

Yes, the float may be relatively small. That would explain the price action. There may be a small pool of available shares that are being traded over and over while big investors are simply sitting on their shares waiting for results. There still has been no distribution and no refinancing. When WT goes over five dollars, I would think that would be a good time to do a financing. The rule is finance when you can,not when you need to. If the stock then continues to climb in the face of a small dilution then they should finance again. The higher the price, the fewer shares need to be created for more money. Fill up the treasury. It's going to be an interesting play right to the end.

To: C who wrote (447)	4/27/1998 4:52:00 PM
From: bill	Read Replies (1) \| Respond to of 1288

Well, I'm back in but I've just had my first experience with a market order and I don't think I'll do that again. I'd put in a bid at 2.95, at 12:50 I called back and changed it to a market order. There were 4600 offered at 3.05. After that I saw the stock drop to 2.97 and close there. I paid 305, 309, 310. According to Greenline there was such a rush of orders at the end that they were overwhelming. Someone once said to me, "Don't use market orders." Guess I'll go around smacking my wrist for the rest of the day. Volume was 400,000+. Not a lot considering the kind of day and the drop. Question is will the market keep dropping for the rest of the week?