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 : Arcon Energy (MIDL Presently) The Ultimate Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (1387)	5/29/1998 1:53:00 AM
From: Y2k_fan	Respond to of 4142

I could not say that this is totally without risk. I helped to reduce in total 60k shares of MIDLW yesterday and today. The thing is, I only exercised 20k yesterday and did an immediate sale. Made about $4k free money. (Bought 10k MIDLW at 0.38, 10k MIDLW at 17/32, sold 20k exercised MIDL yesterday at 1.19) I bought another 40k shares of MIDLW yesterday at 0.50 + commission. Tried the same strategy this morning, set a limited price at 1 1/8 to sell all of them. However, the MMs dropped the bid right after 1000 shares. I got a little panicked, (don't want to increase my margin at a volatile market) reduced the ask to 31/32 and sold all the shares. End up, I lost 1200 today on this. Overall a fine profit for 2.8k. The lucky thing is, I knew the strategy and I didn't have to sell my MIDLWs at 0.39 to lose more. But that's quite a hustle. Still hold some MIDLPs as a long investment.