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Gold/Mining/Energy : Magellan Aerospace Corp (MAL) New Listing -- Ignore unavailable to you. Want to Upgrade?

To: Grant MacMillan who wrote (467)	1/11/1999 11:14:00 AM
From: thomas gentry	Respond to of 633

Grant, End of day trading hurt MAL last week on Thursday AND Friday. On Thursday, the price crashed from $8.50 to $8.10 in the last three minutes, while Friday saw it fall from from a steady $8.40-$8.50 range to $8.25 in the last ten minutes. Those declines were relatively meaningless however, as both of them came on very light volume (only 5% of the day's total in both cases). As I type this message, I'm seeing aggressive buying at the $8.50 level, suggesting that accumulation may be in the works. Once the "accumulators" have had their fill, the market depth numbers look bullish up to the next large "plug" of asks that are sitting at $8.75. Here's what the depth looks like right now (11:11 AM) # of bid orders/# of shares bid/bid price/ask price/# of shares asked/# of ask orders 4 3,000 8.45 8.50 5,500 4 1 1,500 8.40 8.60 500 1 2 500 8.35 8.70 1,000 1 8 31,000 8.25 8.75 6,200 3 1 700 8.15 8.90 1,000 1 Thomas