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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (7567)12/20/1997 2:31:00 PM
From: Jan A. Van Hummel  Read Replies (1) of 20681
 
Mark,

Knight has a point. In the process he confirms himself what he has been
fighting us longs for all along, namely that the stock is stronger
than it is trading at.

He should be concerned about being short.

He speaks about "allowed" as if "manipulated" and if so, I am not sure I
would agree with that interpretation.

For investors to come in I doubt that at this point in the process they
would have stepped in as easily at $10 - $12 than at the current $6.

This is still a high risk stock and these investors need to see a little bit
of a cushion, some comfort, an incentive before committing to big bucks.
A share price at $6 plus warrants will do that better than $10-12, which
would be a totally different ballgame.

So Knight may well be right by saying the stock was allowed to drop to
accommodate this PP.

This should also be a strong sign to Knight that when this stock start
moving higher and when there is no need anymore for PPs, he will have
lost his window of opportunity to first cover his shorts and second
to get on board with the rest of us.

Mark, there are few level playing fields when it comes to big bucks. Let's
not automatically assume that whatever happens at Naxos is done on a
level playing field. There will be a lot of dilution before all the pieces
of the puzzle will fit together.

Boy, I hate it when a short makes a good point. (GGG)

JMHO

Jan
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