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Gold/Mining/Energy : Winspear Resources
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To: bill who wrote (3826)11/11/1997 5:58:00 PM
From: GOLDIGER   of 26850
 
Hi Bill, good to read that you appreciate the finer things in life. I took the Fix's comments to mean that houses who have for so long been net sellers are now becoming net buyers. This is definately the case now with Canaccord (35). I believe this is not the houses buying themselves but groups of promoters and brokers within the house who believe Winspear is bottoming out.

As for all the talk about covered vs uncovered shorts that is mostly a bunch of hooey usually spread about by insiders blaming others for selling stock that the insiders are in fact selling. Traders at brokerage firms usually day trade short but will not tie up their inventory accounts for long periods of time. There are of course special individual situations but in general brokerage firms hate tying up their limited capital on long term short plays. Vancouver Broker firms make their money following the three C's: Churn up; Churn down; but always Churn.

I think Winspear has nearly bottomed out here but I don't expect any serious turnaround to occur until we(or the insiders)get some news from the company on their future plans. However; as we witnessed the other week when WSP raced to $1.05 on rumours, the turnaround when it comes will be quick and without warning.

GOLDIGER
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