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Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Cytotekk who wrote (8860)	7/8/1998 10:15:00 PM
From: Bill Peterson	Read Replies (4) \| Respond to of 34075

MINE: After Hours and Trading on the Pink Sheets.......... One significant trade (after) 452,000 shrs@ .31 ____5:02pm EST This block trade as well as other big block trades are handled individually by MM's who provide thru combining sell orders to satisfy the client's buy order. Or it may be a sale between two clients, arranged by the MM outside the realm of the day's trading activity. The 2 cent trade shows as registered in time&sales, even tho the official low for the day is shown as .24 Tomorrow I will be able to determine if this trade actually went off, and will post here. Verification of time&sales for the pink sheets is more difficult than on the OTC. Early this morning I attempted to warn those trading on the pink sheets. Post #8472 Hard to belive that it's 400 posts old in only 17 hours. This thread is becoming diluted by argumentative exchanges, cheap shots and ego battles. The Pink Sheets caught a lot of people by surprise, as most investors and traders are used to a bid/ask orderly market. The sheets can be a trap for even experienced traders and brokers. The name of the game for the MM's is to take advantage of market orders, and sit on limit orders until a lucrative spread comes their way. That's how they make their living. You swim in their waters, you are swimming with sharks. For longs, the only move you can make is put in a limit order for your target price to sell. If it is your long term target, place the order and wait. Buyers beware, watch the trades and try to place your order in the trading range if you think it is an opportune time to buy. Daytraders normally avoid the sheets. They are also at the mercy of the MM's, and quick execution of a trade is the exception. For those of you that are still with me, and are interested in rteading post 8472 here it is: ********************************************************************************** To: Dan Smith (8404 ) From: Bill Peterson (Trial Member) Wednesday, Jul 8 1998 4:49AM ET Reply # of 8869 Pink Sheets: There is no bid/ask........................ Market Makers simply grab buy orders in one fist, sell orders in the other, and exchange them in the manner that makes them the most money. As a trader you are at their mercy. Your only hope is to put in a limit order, and hope in flurry of heavy volume, you get filled close to the 'market' price. Most experienced traders simply look at the last sale price for a guide. That is why you saw Tuesday sequential trades going off at 10 to 25 cent spreads. Sometimes as high as 50 cents. In the early hours of trading, Mine traded from 3/8 to 3/4 to 1 ® to ® with just seconds separating trades. So, you better know your target, a realistic one, b4 you place your order. As this thing plays out, more Market Makers will appear on the scene, since there is so much money to be made. That can be a good thing. It can lead to a more orderly market, as the insiders get scalped by a ever-increasing number of other MM's Then the spread decreases and the fluctuations subside. That is what I'm waiting for: an orderly progression in the price of this stock. It will be orderly, and it will progress. In the meantime, we can have some fun dissecting the 8 k's etc. That of course is a luxury enjoyed only in the darkness of a closed market. When we open tomorrow, all DD, speculation on if and how many more holes we need to drill to satisfy LLoyds of London or the retired Professor Emeritus of Homestake University will be a mute point. What we have here Ladies and Gentlemen, is a Run For The Border. The Bolivian Golden Triangle. Speculation, emotion, the magical lure of the metal that seduces tough men, soft Ladies and fat wallets. And in a final note, as I was reading Bloomberg today, I noticed this: Excite: sales of 50 million, losses of 17 million, Market Cap: 2.65 BILLION. Assets=Zero Ask thy GenX or Yuppie Newbie Mutual Fund Manger: What is this stock trading on...Air? Mine is trading on Gold in the Ground my friends.