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Gold/Mining/Energy : Winspear Resources
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To: The Fix who wrote (3384)10/11/1997 2:56:00 AM
From: HARLEY II   of 26850
 
Dear Fix, and George T. please read last paragraph.

Alot has been said on this thread and many others about Canaccord shorting stocks - legally or otherwise. Well I never really knew much about that side of the business so I put that question today to someone who knows these things.

He told me that the amount of shorting done by Canaccord is nowhere near as much as people make out. He said that Canaccord has over two hundred brokers and traders who act independently of each other. Of course the desk traders day short for a few pennies but no one including traders want to tie up their money for long periods of time.

Because Canaccord is so large on Howe Street; and because they are the largest underwriter of new issues, secondary offerings, and brokered private placements, they often have large amounts of paper in many deals. I believe Canaccord has underwritten many of Winspear's financings.

Perhaps if Yorkton had done many of Winspear's financings,we would all be jumping up and down about them.

The only thing the Winspear market really needs is an honest to goodness discovery of a pipe. The stock raced ahead of itself when a pipe was anticipated; and fell back hard when a confirmation never occurred.The more I read the posts from George and Walt, and from what I hear on the "street" the more encouraged I am becoming that early next year this company will turn around.

I realize in an earlier much angrier post I accused George of either being naive or being a paid shill of the company. I apologize for my rudeness and I can assure this thread that George is the genuine article.

Happy Thanksgiving

HARLEY

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