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Gold/Mining/Energy : Flag Resources (FGR.A A)
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To: Quickdraw who wrote (2787)3/11/2000 12:50:00 PM
From: Berry Picker  Read Replies (3) of 4269
 
I really enjoyed reading that post about manipulators and promoters.

One problem trying to pin that on Flag.

Murdo refuses to hire any promotion team even though many of us wished he would just to see this stock climb.

There has been a lot of "hype" about this play but it has been by people like me who own the stock and who also got caught in this latest "crash".

If you check the buying and selling you will see that no single house or even a group of houses was selling.

IF FACT - The biggest seller was Green Crime who I also was trying to reach so I could sell - I was on hold that day for 20 even though I have a so-called "Presidents account HOTLINE" what a joke.

No if this crash was "manipulated" then it was manipulated by the dumbest "professional I ever saw because they use a discount broker who takes 20 minutes to even answer the phone ???

I don't think so Tim.

I think what happened here was simple:

Those who have been following this play got in at the "ground floor" of about 30 cent averaged out prices.

Then the price began to run as things shaped up this spring and indeed the whole market has been going wild this year.

Then as the price began to rise even some doubtful ones began buying in on the "dream"

As it ran even more even more nervous buyers got in a even more scarry prices and we went to $1.40 ( man do I wish I sold out 1/2 and bought back right here ) I did sell a bunch but only got an average of 70 cents and bought back at an average of 58 - better than nothing I suppose.

When the results came out as merely indicative that we are on the right track and all of us on this thread were "hyped up" to see 2 grams/ton the selling started with the newbies and the most nervous or overbought people.

As soon as I saw it start to crash I tried to phone Green Crime but could not get through.

I now hate Green Crime and although I saved $10 on commissions I lost thousands.

While I was on hold I watch the price drop from still being over a dollar to 80 cents and falling fast.

If you figure that this stock went from a year low of 17 cents ( I know who bought that stuff and am jealous ) to a high of $1.43. That is a price move of 1.26

Fibonacci formula for retracement is .618 X 1.26 = .78

$1.43 - .78 = 65 That is where we closed on friday after all this pandamonium.

" Do I feel like I'm floating ??? "

No I feel like I got hit by a Mac truck :-}

I am however still in the money and still think this play will run. I think this is now the "ground floor"
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