International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Zeev Hed who wrote (27095)	11/17/1997 11:08:00 AM
From: Claude Cormier	Read Replies (1) of 35569

<< If I was an owner of the stock I would use the opportunity of short term forrays above 3.5 to sell. I believe this is "dead money" for a good year if not longer. There are other opportunities.>> Zeev, on a technical basis, IPM broke strong support at 3.75-4.00 and this means it could go back to $2 its leval of Fall 1996. However, TA is not a pure science. And there are no garantees that IPM will go back there. For now, there is strong support above $3. Given the new fundamentals, I prefer to be out of the stock and watch from the sideline. However, I am not against somebody who would prefer to hold a small position. The play is still valid given the new fire assay confirmed by Bateman. However, we are far from having a reserve that can be mine at a profit. Those who owns large position (more than 5% of their PF) are playing roulette here ! CC

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