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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97
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To: Ron Pitts who wrote (266)5/22/1997 3:41:00 PM
From: Chip McVickar   of 297
 
Hi Ron
Like to ask your opinion on these last 10 weeks of trading and the connection
to Bre-X and Delgratia derailments.
The trading ranges of penny stocks seemto have significantly narrowed...alot.
In stead of a few being able sustain rises of say 50 -60 -100%......
ALL penny's seem unable to break the 10 - 20% range before profits are taken by traders.
No stock seems to weather 2 days before it is hit for 20% profits.....this must be the
professional traders and houses clipping there profits.
.
Is this something that historically occurs after a Timbucbtoo or is it
just this particular market...?
Has the holding base for these companys been so severly taken away they can not support higher trading...?
.
I prefer to hold companies and watch their real story unfold and to take larger profits
later on....as to go say from .50 to 2.50 before selling.
Stocks do not seem to do this any more.....?
Recently this seems like an unwise course to take and any participation in profits may only
occur only if you trade foir 10 -20% profits.
.
It might just be time to join the traders and make a little money, while the
markets sort out all the confusing information.
Any thoughs on this...?
Chip


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