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[Placing Order to Close City Telecom HK (CTEL)]

Dear Member:

With the way City Telecom HK (CTEL) bounces around on such light volume, I am going to place an order to sell at a limit of $5.25 or better and make it good 'til cancelled. That way if a market buy order comes in I may well get filled at a profit.

DISCLOSURE: At the time of publication, I own shares of CTEL.

Sincerely,
Bill Kraft


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