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Gold/Mining/Energy : Yamana Resources INC. T- YRI
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To: Mr. Oil who wrote (1750)11/27/1998 10:59:00 AM
From: Daytek77  Read Replies (2) of 2346
 
Hi Ray

You don't know me but I used to own Yamana a few years ago and sold off when the Bre-X fiasco developed. I still follow it because I think that they can develop into a solid company given their success in Argentina and my experiences with management in the past. Having said this I do have a comment about the trading today. Go to stockwatch and look at Yamana's previous trades. You will notice that almost all the selling is originating out of Quebec based brokerage firms, namely Desjardins, Levesques, Commission Direct and Nesbitt (quebec). I know that the Nesbitt(Qubece) office is selling because I was speaking to an analyst about another company and he mentioned that even though his firm has a buy rating the Montreal office is selling. I did some basic investigation of some other juniors and sure enough the last few days the Quebec based brokerages have been unloading everything. Perhaps this is the fear of the election results and the apparent PQ victory. In summary speculators out of Quebec do not want to own stocks before the election.

The bottom line is that the selling does not necessarily portend to bad results next week but rather is specific to the points I raised above.

All the best

Tony
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