To: Steve1 who wrote (7357 ) 8/1/1998 12:57:00 PM From: James Harold Alton Read Replies (1) | Respond to
Steve, Sure there was some profit taking from Day Traders, but our stock opened above $2.50 and closed right at $2. The drop below $2.50 had little to do with retail selling/day trading IMO and the TL supports this. That was a good trade you made, it put $800 into your account and allowed you to keep all of your shares. Also consider what would have happened if you had not made that trade. A CC holder would have probably made the extra $800 since the price would have held a bit longer. On the other hand, when you bought those 2,000 shares back you added some support at a lower level and probably negated the slight weakness your sell created. If you at some point you choose to invest the extra $800 into DCTC, then you have helped us soak up additional CC shares as well as having built your own position. I do not have a problem at all with DCI shareholders building their positions via trading this stock. If there are successful, the trader benefits and more shares are pulled out of the float. The way I see things, is that if our stock is volatile, it will be traded by someone and I would rather it be by our long term holders. Outside traders that jump in for a quick flip and leave with their profits take $$ out of our investor base, just as the MM manipulations such as we had yesterday do and hurt us all. That money may never come back into our investor base. To those that trade DCTC and are also long term holders I have a few suggestions to reduce the impact of your selling:
