To: Jorjenzak who wrote (2081 ) 5/13/1999 5:46:00 PM From: steveK. Read Replies (1) | Respond to
There were slightly more buys than sells today.Maybe 1 1/2 to 1 ratio.Good volume.Remember,the trading float is only 5.5Mil.,so if we did 250,000 that would be approx. 5% of the float for that day.Not bad.If we can get to 300,000-500,000 levels,with more buying than selling on a daily basis,we will see different price ranges.Supply and demand.As I reported earlier,someone(I believe anyways)this AM sold 5 blocks of 10,000 shares at .49 cents.This helped the MM's pull it back a bit.In the PM,it looks like more buying,but again it looked as if someone sold 4 blocks of 10,000 shares(@.49) in a short time span.That's around 90,000 shares right there out of the over 220,000 shares traded.This allowed the MM's to hold it there without needing to let it rise on the buying.Supply and demand?Maybe.Even with the volume of buying today,it looks as if the MM's have quite a few shares in their coffers right now.That can change rapidly though.Especially if we break out into a few good volume days.I must admit,I'm getting tempted to increase my position at these prices.I hear some of you did do that today.I believe it's a very attractive price range if you are taking a position for awhile.Even as a momentum play it looks fairly advantageous,especially if the "Gorilla news" hits soon.Buy on the rumor-sell on the news?Maybe.Was it one person selling 90,000 shares today?Maybe.I doubt seriously if it was an insider.I'm comfortable-and long.By the way,great to hear quite a few on the board are planning on attending the meeting in Las Vegas.A few from my RB message board are planning on it as well.Go BETT!!!
