Brookstreet Story -reformatted to fit window
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Ceased Operations May15, 2009
Message: Brookstreet Story
Brookstreet Securities was forced to liquidate all its long positions and cover its short positions, according to numerous news sources, including The LA Times and The Wall Street Journal. (A Google search of Brookstreet Securities will produce links to this unfolding saga.) http://news.google.com/news?hl=en&q=Brookstreet+Securities&btnG=Search&um=1&ncl=1117482652&sa=X&oi=news_result&resnum=4&ct=more-results&cd=1
Brookstreet (BKST) seems to have had a long position in VYTC. They were, I have observed, on the bid far more frequently than they were on the ask, and seemed to be accumulating a long position. This tells me that they believed in VYTA Corp, and that it was a company worthy of accumulation. The subsequent failure of the Broker/Dealer firm because of a margin call related to sub-prime mortgages has no reflection (one way or the other) on the soundness of Vyta Corp. Nothing has changed.
The OTCBB site indicates that the total trading volume for BKST, both buys and sells, for the period from January 1, 2007 through May 31, 2007, was just over 200,000 shares. http://www.otcbb.com/asp/Info_Center.asp There is no way of knowing how much of that 200K volume in 2007 was accumulation, how much was selling (yes, BKST was on the ask, as well as the bid) and what the total accumulated long position of the firm might have been since they began making a market in VYTC. However, if one were to assume that the 200,000 share volume for this year represented BKST's total long position, a forced liquidation of that position would result in a trading volume of 400,000 shares.....it would be roughly equal to the total trading volume over the last two trading days that Brookstreet is reported to have liquidated their positions.
Does this mean the sell-off is done? There is no way to know that for certain. Does this this change anything as far as the potential of Vyta Corp and the commercial success of Bioagra? I see it as totally unrelated.
This sudden downturn has a logical basis unrelated to the company. I am looking for a return to previous price levels as soon as buyers sense that Brookstreet is truely finished liquidating and view this as a buying opportunity that many of us believed we would never see again.
Yesterday, at .26, I added a very modest number of shares to my long position, on a hunch that the selling is over. With Bioagra's agreement with AHD, ongoing field tests all over the country, the steady growth of Exypnotech sales, and the limited NCS "technology agreement" shortly coming to a crossroad, I find the upside potential to be exciting.
FWIW
-z
Brookstreet (BKST) seems to have had a long position in VYTC. They were, I have observed, on the bid far more frequently than they were on the ask, and seemed to be accumulating a long position. This tells me that they believed in VYTA Corp, and that it was a company worthy of accumulation. The subsequent failure of the Broker/Dealer firm because of a margin call related to sub-prime mortgages has no reflection (one way or the other) on the soundness of Vyta Corp. Nothing has changed.
The OTCBB site indicates that the total trading volume for BKST, both buys and sells, for the period from January 1, 2007 through May 31, 2007, was just over 200,000 shares. http://www.otcbb.com/asp/Info_Center.asp There is no way of knowing how much of that 200K volume in 2007 was accumulation, how much was selling (yes, BKST was on the ask, as well as the bid) and what the total accumulated long position of the firm might have been since they began making a market in VYTC. However, if one were to assume that the 200,000 share volume for this year represented BKST's total long position, a forced liquidation of that position would result in a trading volume of 400,000 shares.....it would be roughly equal to the total trading volume over the last two trading days that Brookstreet is reported to have liquidated their positions.
Does this mean the sell-off is done? There is no way to know that for certain. Does this this change anything as far as the potential of Vyta Corp and the commercial success of Bioagra? I see it as totally unrelated.
This sudden downturn has a logical basis unrelated to the company. I am looking for a return to previous price levels as soon as buyers sense that Brookstreet is truely finished liquidating and view this as a buying opportunity that many of us believed we would never see again.
Yesterday, at .26, I added a very modest number of shares to my long position, on a hunch that the selling is over. With Bioagra's agreement with AHD, ongoing field tests all over the country, the steady growth of Exypnotech sales, and the limited NCS "technology agreement" shortly coming to a crossroad, I find the upside potential to be exciting.
FWIW
-z
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