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Gold/Mining/Energy : American International Petroleum Corp
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To: DRRISK who wrote (7732)3/14/1998 11:26:00 AM
From: DEER HUNTER  Read Replies (1) of 11888
 
Morning.....I don't know that I believe in the Millenium effect anymore. They have let me down too many times. I am nervous about this sell off but not to the point of selling my shares. I still believe in the aipn story in Kazahkstan and if I had not already established a position I would be buying at current prices. I see you have been averaging down. The investment community would say that averaging down is a bad tactic. I disagree in this case. Sell offs occur all the time. It takes great courage to step in and buy when stock prices have broke the perceived support zones. But that is exactly what must be done in order to win at this game. The truth is there are no definitive support and resistance levels....they exist only in the mind of the technician. Stocks top and bottom out when they do....we just never know. Right now aipn has touched 3 3/16 twice in the last several months. I would think that many more stops are laying below 3 3/16. And if that is true the sinister and deadly MM's will gun them for sure. That is their job. They have access to the order books and if stops are there they are salivating. We will see. More later. A great stock chart to study is ticker symbol (oil). Investors were dumping the shares of this company by the truckloads just prior to a well coming in several years ago. Go to yahoo and check out the long term chart. This is a great example of what can be achieved if an investor believes in a story and sticks with it despite everyone around him losing their heads. Never be a lemming I always say!

DEER HUNTER
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