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Gold/Mining/Energy : PYNG Technologies

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To: the Chief who wrote (982)	3/16/1998 9:42:00 PM
From: doug	of 8117

I agree Chief - this is not a classic short play. However, I must clarify statements regarding the <published> short position. Uncovered shorts MUST be declared by the brokerage firm, while covered (if the brokerage has clients shares "in trust") shorts MAY be reported. The reported short position in Can newspapers is almost meaningless as the uncovered position is always less than the covered position. As I have posted earlier there are only 2 firms in the last month with a sizable negative balance. You can rest assured that Canaccord & Yorkton were not shorting this stock at 1.35, so starting from this point if ALL sales from these firms were shorts, in the last month we would still be at only a few hundred thou. Not a large short position! I don't buy the short argument. If the price dips early on in trading tomorrow it's only because of naive investors who were in for a few days, got worried and left. Regards.

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