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Gold/Mining/Energy : Ipsco TSE IPS
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To: James R. who wrote (2)7/23/1998 11:37:00 AM
From: Marcman  Read Replies (2) of 5
 
IPSCO, like the whole Canadain steel industry, is getting kicked in the teeth by the Asian "crisis". IPSCO has even cancelled a planned public offering because of weak prices (IPO was originally set at $47).

Even the companies without Asian customers are getting kicked because the steel once bound for Asia is now flooding the North American and European markets, driving down prices, profts, etc.

My newest investment philosophy is to buy distressed blue chips. IPSCO may soon fit into that category. I'd watch closely for a bottom and then buy.

GLTUA,
Marcman
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