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Gold/Mining/Energy : Kalahari Resources Makes Major Move Upwords

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To: Don Billins who wrote (98)9/28/1997 4:26:00 PM
From: VAUGHN   of 349
 
Hello Don

Until I hear the word pipe, I am playing KLA to slowly slide like an otter on a snow bank, (manipulation aside). Comes December, I will be back into KLA and CAV but I expect the prices to be 50% lower by then. My understanding is that KLA only had a modest short position as of Sept 15th but I have not checked on shorts on CAV or WSP.

As much as anything, that may determine where the bottom will be as the tax loss selling and lack of material news should leave these two pretty close to the basement.

In the juniors, none of my sources are optimistic about WSP next year, but the other two still have considerable potential. If for some reason however that I see SUF bale on KLA, well it will only be CAV, and with a good Fed announcement, maybe GGL for me next spring.

Sorry but I just don't have the faith that some do in WSP.

Regards
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