Napier International Technologies Inc. (T.NIR) Message Board

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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR)

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To: chris who wrote (628)	6/26/1998 12:47:00 PM
From: David in Ontario	Read Replies (1) of 2444

Yes - Chris - grabbed some more this morning With such a high volume this morning - we may have the shorts buying (some or many at a loss I imagine) having realized that they made a big big mistake here - and then giving the brokers back the shares they borrowed and sold. If I were shorting NIR I would just accept the loss - if that's what it is for them - and just getting out now while I still could at these levels. The huge danger with being on the short side is that your potential losses are unlimited! You could easily get wiped out in a day or two following a major News release - and your broker calls in the shares. With the 'more good news' third quarter financial statement due to be posted on SEDAR by the close of business next Tuesday - then I can see NIR trading at $3+ late next week - with Wednesday (1 July) being a holiday in Canada. Yes - I grabbed another 850 @2.85 this morning. That was a little higher than I wanted to pay (high so far today of $2.87) - but I tried four times to get someone to bite and take my bid - started at around $2.45 - nothing - and the last traded price just kept climbing on high volume - so after about an hour I said to h*ll with it - changed my limit order to a market order and within two minutes - BOOM - I had grabbed another 850 NIR. At this stage I'm not worried about a few cents here or there - I'll just grab them when I can - and at these prices NIR is still a bargain. I'm just not going to try to save a few dollars by altering my bid all day - only to be left with nothing at the close. The last big News was issued at 9:29 AM followed by the trading halt - however, there is nothing to stop an intraday halt either. Given everything that we know about what to expect in the next News release - I'm just not going to get caught out. If it takes a market order to grab NIR - then that's what I'll use. These are still bargain basement prices whatever way you look at them. Lunch time, David in Ontario :-)

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