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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: tracy chelepis who wrote (3963)3/12/1997 12:17:00 AM
From: John H. Flint   of 35569
 
Tracy, The Nasdaq Level 2 allows you to see which marketmakers are bidding and offering stock. In IPMCF's case, 4 MM's have been "leaning" on the stock (FSCO, NITE, BACH, FAHN) with only 1 supporting at times (TSCO). Fiero Brothers (FSCO) have a notorious reputation as being a MAJOR short player. Alot of people do not like John Fiero, but he seems to short stocks that are not real companies. In IPM's case I believe he is wrong, but I will not fight against him as he is an astute trader. Is it coincidence that a negative, ultra biased article rehashing old news suddenly appears via Bloomberg? I would hope so, but I have been left shaking my head more than a few times. I have had to learn the hard way in regards to bucking the momentum with stocks.

In the end if you believe that all that IPM is doing is legit the stock will find its fair value at much higher levels. Don't fret because of these traders making some money. They will turn around and join the longs when the time is right. Pick a place where you are confortable with your investment and let the company prove what they have. I see this pullback as a serious opportunity to position oneself in a company with a "golden future". We shall see.

John
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