Friday, October 20, 2006 5:28:53 PM
You choose to label this a "sell." Why couldn't this be a share buyback block equal to 25 percent of the shares traded for the day, as First Guardian promised they would be doing through the end of the month, and as matches the amount they are constrained to buying daily?
I have also seen it stated here as fact that in executing a buyback a company is not allowed to purchase at the "ask." Which would explain why the "BUY" (in my book) goes through below the ask price at the moment.
When the company announces the downwardly revised accurate amount of shares -- the previous number minus those shares they have purchased in October and retired -- I believe the share price will double in a day, making FGFC the new penny board darling again, and a 5-cent stock in November.
Then you will hear the lament, "Oh, I should've KNOWN that was the buyback in progress when I kept seeing the large block go through at 3:30 every afternoon... and that the price was too low and should have bought more.... etc. , etc."
But fear is conquering logic at the moment.
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