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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL) -- Ignore unavailable to you. Want to Upgrade?

To: Jack Sman who wrote (36460)	7/20/1998 7:57:00 PM
From: William Harvey	Read Replies (1) \| Respond to of 41046

Thanks alot, Sman. We had about 12 to 7 in favor of the offer: 60.3k/offer vs 35k/bid. Up to 11am, we had almost 8 to 1 as Vic pointed out earlier, on 31.3k/offer vs 4.1k/bid at which point we were up 1/32. There was a block of 5k/offer and a block of 6k/bid, both around 1pm. For a cumulative 3 hours today, we had a spread of only 1/32. This makes the movement of the stock more fluid and natural, but it makes deciding whether a trade is a buy or sell a little more difficult. I suppose (as is usually the rule) when the spread changes there is a window of about one minute where the old spread still reigns, so I went with that. It appears that the wider the spread, the more locked in we feel which, in turn, scares investors away. I hope the 'less than 2%' spread continues. WH