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Gold/Mining/Energy : Breakwater Resources (T.BWR)
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To: John Sladek who wrote (593)1/16/1999 8:29:00 PM
From: Stephen O  Read Replies (1) of 962
 
John You are absolutely correct, as the price of Zinc goes there goes BWR. Zinc was up $18 a tonne on Friday and is off it's recent bottom by about $30. The amount of zinc in the LME warehouses is now about 317,000 tonnes which is down from 492,000 tonnes at the end of 1997. That is a big decline, about 35%, and that with the far east in recession. Korea is already waking up, if Japan rouses from its slumber and Europe and North America stay as they are, watch out. I think the commodity funds have been short all the metals as the generally held view is that the world is in deflation. That kind of thinking can turn on a dime. Will you be there when it turns. Buy at least half your position now around the $1.10 level and buy lots on a breakout above $1.50, that's the 200 day moving average.
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