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Gold/Mining/Energy : Winspear Diaminds (Bulls Board)
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To: Gord Bolton who wrote (330)2/4/1999 10:11:00 PM
From: Letmebe Frank  Read Replies (2) of 1172
 
Gord: Thanks for the links today, and now a general question:
Sudhir says:
"In the last issue, the portfolio protected itself against any fast move by WSP on the upside by implementing a buy on limit at $3.48 (with a discretion of $0.02) for 5,000 shares. This is now being revised down to $2.80 (with a discretion of $0.05) for 5,000 shares. This means that if WSP trades up to $2.80, a buy order will be initiated. I am also initiating a buy order of 10,000 shares at $2.55 which I expect to get filled over the next few days."

Given the stronger close today, I can see strong buying tomorrow, with a close over 3 buckaroos. I'm surprised by SK's expectation of getting filled at 2.55. I agree with others that there appears to be strong resistance at 2.70. Why would one buy at 2.8 if the expectation is we will see 2.55 in a few days? I don't see it happening. Comments?

Also got to say that I see our good friend TeeVee's bearish sentiment as a buy signal. As with most of my calls, if you short what I buy, you make money 80% of the time. (Don't be offended TeeVee - weak attempt at humor!)

One more thing - I'm going to frame Sudhirs investment rules; make a lot of sense to me. If I had used such rules 20 years ago, I would be retired by now. Well, it's never to late to grow....
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