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Microcap & Penny Stocks : ARXA International Energy (OTCBB:ARXA)

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To: James A. Albers who wrote (3)6/3/1997 9:49:00 AM
From: Bob Davis   of 31
 
On May 28th, last Wednesday, I sent out a brief Report on ARXA,
which had been heavily hyped a few days previously.

Yesterday, ARXA dropped $.50 to close at $3.00, after reaching a
high of $3.625 in interday trading. I suspect that the "pump" portion
of this operation is long over, and that the "dump" portion is pretty
much completed too. Watch the price and volume on this "puppy"
over the next few days - and if you actually own it..... well, to comment
further would be offering actual investment advice.

By the way, a complete copy of this Report can be found at
napeague.com. Go to the Hypertext link for the "Blivit
List".

Bob Davis
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