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Gold/Mining/Energy : Nuvo Research Inc
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To: Done, gone. who wrote (570)9/5/1997 9:58:00 PM
From: Mark Bartlett   of 14101
 
Michal,

<<For you and me it sure is. But, I suggested to a friend that DMX is worth a look. Question is, what's the best strategy for someone new trying to get in now? Any ideas that I can pass along?>>

Difficult call. Personally I am very optimistic about DMX - there were a lot of buyers last year at the level we are at now - and I think the reason this is such a tough resistance level, is many are just selling into this strength. I certainly can understand their feelings - but the stock is still very bullish, and I think that the ones buying now _may be much better informed than the ones selling.

If I were your friend, I would take advantage of the resistance at the 5.00C level with an initial position - say 30-40% of what she\he intends to invest. I would watch for any pullbacks and if things continued to look positive, add another 10-20 % .... if there is no significant pullback (and I am not so sure there will be) I would consider averaging up into the strength with about 10-20% of the remaining amount to be invested.

It is always tough to throw your money at a stock after it has made good gains .... so I sympathize with your friend .... but if the stock is 15 bucks 6 months from now, that is tough too <g>

BTW - I think todays frenzied buying was all of those brokers that were at yesterdays information session.

Their AGM is is 3 weeks .... let's hope they have something positive to announce.

MB


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