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Gold/Mining/Energy : Yamana Resources INC. T- YRI
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To: Abner Hosmer who wrote (1779)12/2/1998 3:02:00 PM
From: Daytek77  Read Replies (1) of 2346
 
Thomas,

I am afraid I have to disagree with your assessment overall. You state "that shorting mining stocks has been far more lucrative than shorting internet stocks." The key phrase IMO is "has been" as in past tense. These stocks are down 70,80 95% in some cases off their highs. Even using your examples, which are skewed because these are the strongest companies in the group, Yhoo went from $105 to $55 and Aol
from $70 - $35 in the July Sept time frame. Amazon was an even better score it went from $140 to $65 in this period. The time to have been looking at Gold stocks was the period when Bob Bishop was touting Corriente to go to $50 when it was $14 about 2 years ago.

You also state that "..most of these companies wind up with jack-all..." I suggest to you that neither you nor anyone else can tell me with certainty whether Ebay, Amazon or the Globe.com or any of the myriad of Internet plays will have the right business model for what the internet will be like 5 years from now. Look at the technology leaders five years ago and a lot of them have disappeared. How can egghead file for chapter 11 bankruptcy a few months ago come back as an "internet play" and the stock goes from $1 to over $30!!. This is the area where you will find the greatest short opportunities.

As for Yamana they are concentrating on their most advanced project which I believe will become a mine. Finally in the most brutal junior gold market in 30 or 40 years you still could have tripled and doubled your money on this stock in the last year!

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