ECM.VSE - El Callao Mining. Message Board

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Gold/Mining/Energy : ECM.VSE - El Callao Mining.

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To: virginijus poshkus who wrote (790)	7/2/1997 12:32:00 AM
From: Richnorth	of 1253

Jul 2 1997 12:23AM Will ECM go down to $1? I won't be surprised if it goes that low or even lower because a lot of people seem to be gripped by fear or negativism that gold and gold mining stocks will continue to trend to lower levels. According to most of the investment gurus' articles at the URL, gold-eagle.com, however, gold has practically botommed and will be making its rebound pretty soon. Just as my optimism was coming back, I happened to read another article at the same URL that the present bull market in stocks might well last until 2003, implying that gold won't be making a strong comeback anytime soon. Yet another writer thinks that the lower and longer that gold is being held (through conspiratorial forces at work alone or coincidentally with natural circumstances), the more forceful and sudden will gold's rebound be! It looks we just have to be super patient or else cash out! My! My! What a terrible thought! I had wanted to buy ECM some time in mid May when it was trading at about $1.50 and when it was reported that its new reserve was estimated at more than 2 million oz. gold which was double its earlier reserve. It was then thought that ECM's price could easily double pdq! (pretty damned quick!). But it never happened. Why? Either one or both of two things happened. Either desperate investors cashed out or shorters shorted the stock or both happened simultaneously. To date, I still have not bought any ECM yet. Instead I bought a lot of Net Nanny (NNS on VSE) recently at $1.32 and cashed out at $2.95! I wished I had cashed out at$3.45! O' well. At least I got back something to compensate for losses in other gold mining stocks. Now NNS is at $3.03. I am still very tempted to buy ECM as I think it is a good stock. What is bugging me now is the price of gold, and whether gold stocks will go lower yet. Richnorth

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