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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Little Joe who wrote (778)	4/17/2000 4:39:00 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 4409

<<Claude, I certainly don't have your experience in the small cap gold market, but I have a lot of experience trading a variety of stocks and this stock is not acting like a winner. If it is in strong hands, I don't think it would have given back the entire runup that resulted from the release of the good news.>> It is always hard to figure out what affect a stock on the short term. Keep in mind that the market tanked Friday. Who knows why that investor sold 10000 BAY at the market late Friday causing its price to drop. BAY ended a bit higher today, but there were still many sellers. They probably had there reasons. Look at IWA, PFN and CTQ, 3 stocks with a lot of momentum these days... much more than BAY. They are all down from their highs... again.. much more than BAY. Can we conclude anything... Maybe.. Maybe not. But if investors/speculators are willing to buy them... why not BAY which has already a lot more in the bank than any of them and is also much cheaper than any of them. I again repeat that promotion can only have a temporary effect on stocks. In the end it is the quality of the assets that rules. << I for one would rather pay a little more on a breakout than to watch the price slowly erode or consolidate endlessly. >> Well I prefer to carefully study and understand a play. WHen I get in, I hope to pay the lowest price possible. I want to buy when everybody is selling. Because I know the value of the play and I know it will move higher eventually. <<Claude, as you know I am an ormetal subscriber and you are the only gold/silver small cap advisor that I respect. >> Thanks.

To: Little Joe who wrote (778)	4/17/2000 5:19:00 PM
From: russwinter	Respond to of 4409

I have a theory about what is happening here. Notice how poor the advance/decline line was for a so called big recovery day. All the strength was in the same ten or so darlings of the bulls: CSCO, INTC, SUNW, MSFT, etc. The bulls were driveling on all weekend long about the big "bargains" to be had buying those same blessed and by extension "guaranteed" stocks (post 765 on this thread is typical, also read my retort to one on the FN thread).Indeed I didn't hear an original thought from the bulls (or sheep) all weekend. I also overheard two brokers conversing next to me at my local brewhouse on Friday. One said a client instructed him to sell every stock he owned and put it all into MSFT. I looked at my wife, put my head in my hands, and predicted then and there, "On Monday, the idiots are going to sell everything lock, stock and barrel, to go right back into the worst bubble stocks!" Net net, this means that margin calls were met by selling prosaic names, not the blessed ones. Those same names were also dumped to buy the big tech "bargains". Certainly fitting into the category of the prosaic, or the "unwashed" so to speak are precious metals stocks, among many, many others. Is this what is happening? I think so. Can it last? I really doubt it, but who knows. Ironic isn't it? The NASDAQ bubble finally bursts, and investors sell everything else to get right back in the same narrow list. No doubt because that's the only money they have. It was illustrated today in a very poor performance from some of the best golds. Little Joe, in all fairness to a good value investor like Claude, I think you are asking your question to the wrong guy. To answer it correctly, you will have to glean the mind of today's market mob. And nobody has that answer.