Oh Yeah, DHK fiasco, almost got caught myself! Surething, I am also worried playing this speculative diamond exploration stocks. To answer your question re the softness of Alberta diamond stocks would not be easy. However, I will give you my opinion. On Thursday, with a runup on Ashton and other Alberta was a result of more than one factor. Everybody is watching this play so close, the moment they see the stock moving any direction, they jump in because they assume something is up. Well, something was up, rumours were circulating about a few issues, like 1000 bulk sampling being a reality and additional K14 results, etc. As well, the same day, Mike S newsletter, released on Thursday, continued to strongly support the Alberta play. That recommnedation, also got the rally going. If the rally had continued late Thursday, I expected the stock to have been halted until information was ready for the public. The rally did not continue but Ashton maintained its strength. This week is going to be a big week re the direction of Alberta diamond exploration. If it flops, lots of people will lose money, newsletter writers and broker analysts will lose their creditability and the junior index will be hit real hard. Will it happen, don't think so. I think we'll make history this week and all diamond junior diamond exploration stocks will have a busy and interesting year. Ashton will continue to play its cards and suggest that it is still too early to declare victory and I agree with that thought. The release will hint that further samples are required and Ashton has agreed to proceed. BTW, I know for a fact that Ashton and JV are working on a 1998 project plan for Alberta.
As for the other Alberta exploration companies, we need to keep reminding ourselves that they normally move on reaction by Ashton. Friday morning, some investors were expecting Ashton to trade higher than $7.00, it didn't. That may have caused some people to reduce their holdings on Alberta diamond stocks until more concreate data is released.
As I have said before, invest what you can afford to lose. <g> |
