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Gold/Mining/Energy : Avcan (acy:vse) Company about to take off?
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To: rdww who wrote (4)2/7/1999 7:30:00 PM
From: Joggins  Read Replies (1) of 23
 
I'll try to dig up the info shortly.

Meanwhile an email from Deadlock <stockmaster@canada.to today.

"ACY:VSE $0.40

Regarding our ALERT last week on ACY - I do not wish to get into details but suffice to say I should have went with gut instinct on this one rather than follow the tip. Was hoping for some short term gains so just as much my fault. Nothing fundamentally wrong with the company in the least,however the volume being churned in the 0.38 to 0.40 range on the heels of a 0.25 financing should have been warning enough that the possibility existed paper would be sold into the market to self finance. This is only speculation but the market activity speaks for itself.
Trading activity this week will prove or disprove this theory but I suggest you keep an eye on it if holding a position. Bidding on the board remained very strong on Friday in the 0.36 to 0.38 range so downside is limited (over 300,000 on the bid between 0.35 and 0.38).

Keep in mind however, the possibility still exists all we were witnessing was some form of a shake-out on the stock and as a result the upside may still remain substantial. Unfortunately though we do not have a strong enough comfort level to provide more extensive coverage."

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