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.

Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: Ruyi who wrote (2235)	11/29/1998 10:06:00 PM
From: the Chief	Read Replies (2) \| Respond to of 37507

Hi doug. I have a shorterm and a daytrade position. The shortterm position moves in and out of the daytrade acct totally depending on the "amount the stock moves in the day. The daytrade acct and/or shortterm acct get replenished on any pullback. .My concern with any brokerage company having 8 mill.plus shares is that they could pump this thing sell short all the way up hit their level then start a "bear hug" by offering below previous trades creating an erosion of confidence, then watch the bids disappear. IMHO I don't think you should be concerned, all of the stocks that have moved upward on large volumes in the last 2 weeks would likely have significant "house postions" built-up as a result of their catastrophic rise. The one thing I have found in the past, is that the brokerage that did the IPO or PP is not the one to fear...its the others that are accumulating during the rush-up. So ultimately, the condition you describe would "now" be prevelant in all the "quick run-up" stocks internet or not. then start a "bear hug" by offering below previous trades creating an erosion of confidence, then watch the bids disappear.This seemed to happen when this thing hit $3.50 range then lost 33% to close at $2.30 range.It also seemed to happen in the $5.00 range to a lesser extent.It was also interesting that there was a very large bid at $4.42 that never moved up even when the offer hit $4.44 several times Friday another 10% plus box. They did this at the $1.90 range as well. I have noticed that after they flush the stock, they then produce a very tight box. Generally between 12-15c which allows the panicy general public to blow there shares back to the brokerages. As soon as I see the box built and tightened I also buy!! Because you know they intend on choking of the shares and opening the box. This creates an advantage to the brokerages but it also affords for a linear rise buy backfilling "the gap". You talk of this like it doesn't happen on the NASDAQ??? The Canuck brokerages learned the venerable art of stock manipulation from the Masters of NASDAQ and the irrepresable "MM's"!! There are all kinds of pump and dumps, with internet stocks being hot any one doing this will be very careful not to kill the cash cow, but will rather treat it like a big fish let it run, pull it back, let it run, pull it back,till they wear it down. I have been around the market for many years...I think I can detect pump and dumps. I don't believe this is one. If you believe this is one, then youalso must believe ONSALE or for that matter any auction facility is the product of a massive organized P&D. I don't know about the NASDAQ co-ordination, but I know our brokerages couldn't organize "a one man rush to a three man urinal"!! Yorkton appears to control 33% of the public float.I haven't missed any boat, if as you seem to believe this thing has no where to go but up.I am curious are you an investor or a trader in this stock. In Canada the result of a PP of XXX shares, generally ends up in the "well-heeled accts" of that brokerage. I would definetly be guessing here but I would presume less than 1/5 of the shares that were part of the PP are in the "Yorkton House acct". This is generally the case with all brokerages. The well heeled get greased with the "hot paper"! So the numbers don't reflect fairly house accts but client/house. a pleasure the Chief