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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Berry Picker who wrote (24567)	9/29/1999 2:26:00 AM
From: bill	Read Replies (2) \| Respond to of 26850

I don't often post since I sold off my WSP on the run up. I'm watching for an entry point. I'm afraid that Kaiser is going to turn out to be right. I'm basing that on an experience I had with a VSE stock. Heavy trading, stock financed, looked good. The house that did the financing took a bunch of stock and options. I assumed that they'd want to pump up the price before they unloaded their paper. Instead, they dumped their paper and kept dumping their paper until they'd driven the price into the ground. Now the company is going through a consolidation. You get 1 for 9. I unloaded before the consolidation. Took a 65% hit. Their goal is to trade paper for cash and if they can get 2.00 for a piece of paper, they'll take it, and if the next piece is 1.75, they'll take that. The paper is just paper. They'd prefer it to be in your pocket and the cash in theirs. Even if they don't unload everything they've got, my experience is a 30% drop from the financed price. If they finance at 2.00, then look for a bottom at 1.40 plus or minus. I'm going to watch for a chance to load up. Remember that the last time their price tanked, it went under fifty cents. If the bottom would hold around 1.50, that would be a big improvement. The market would be attributing a tripling of the bottom value. I like WSP. I've traded it for years. Always done well with it. Just got to ignore the hype, take the profits when they're there to take. The volatility is great for trading. Never believed the 20.00 a share stuff. Doesn't mean it might not happen in the future. But, for now, I expect it is down until we know the full details of the financing and the exploration begins again. End of Jan. maybe? Feb? It will come back, though.

To: Berry Picker who wrote (24567)	9/29/1999 1:38:00 PM
From: .Trev	Read Replies (1) \| Respond to of 26850

Yeah Brian , and the best of luck to you too! I guess if I followed your suggestions I'd be really wealthy, like you, but somehow I can't bring myself to accept the Day Trader's credo. I called, and posted what I expected for this financing more than a month ago. I always remember what Murray Pezzim used to say, "Paper is for selling". Don't expect the leopard to change his spots. If you try to play the game his way you will always wind up as Dinner, and not as the Diner. Luck