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Gold/Mining/Energy : CURLEW LAKE RESOURCES (CWQ-VSE)
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To: gholst who wrote (1)4/7/1997 12:09:00 AM
From: Dale Schwartzenhauer   of 701
 
He Glen:

Welcome to this thread! Most of the selling was coming from Cannacord, which is frequently U.S. activity. From checking with our U.S. broker sources, we can't detect any selling from down here, so it must be Canadian based. The current thinking is that it is some type of forced liquidation, a margin account needing equity perhaps, which wouldn't be that hard to believe in the current climate. Since we don't know if it's over, it probably represents a tremendous buying opportunity, and may produce a test of recent lows. I've noticed that it isn't unusual for this type of activity just ahead of a drilling program. It always seems that someone is selling out just before prices move higher. This serves to remove a good deal of resistance by getting the weak holders out of the way now, rather than later. We'll see if it's effective.

Dale
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