heres the Kaiser blurp from CSW
Winspear Resources Ltd -
Kaiser says sell another 25 per cent of Winspear
Winspear Resources Ltd WSP
Shares issued 39,238,388 1999-06-11 close $4.19
Monday Jun 14 1999
John Kaiser, writing in a June 13 Bottom-Fishing Tracker, advises speculators to sell another 25 per cent of Winspear Resources at $4.19, its June 11 closing price. Mr. Kaiser recommended selling at least 25 per cent in Jan. 8, 1999, at $4.10. At the time, the letter writer warned of a speculative bubble in Winspear, adding that rumours (later proved true) that the three biggest diamonds in the June, 1998, bulk sample accounted for at least 75 per cent of the package's value. Mr. Kaiser says the reason for his second sell recommendation is that upcoming results may disappoint, and that is indicated in the recent pullback of Winspear shares. "Bottom fishers should be aware that at this point they are not only exposed to the risk that the average carat value will be much lower than the $301 per carat indicated by the mini-bulk sample, but that the carat grade and stone size distribution may also disappoint," he writes. Mr. Kaiser also apologized for implying on May 31 that management has knowledge that the upcoming results are favourable. His contention has some basis in history, however; fellow letter writer Bob Bishop recommended selling the stock in February, 1998. That followed a complaint by Mr. Bishop in July, 1997, that there was a pattern of huge trading volumes ahead of news releases.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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