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

To: Tomato who wrote (3683)	11/3/1997 3:24:00 PM
From: bill	Respond to of 26850

Depends what kind of stock you are playing. If you read essays by Chelakis on the market cycle for penny stocks, and if you believe what h e has to say, then it makes sense to average down when a penny stock h its the bottom of its cycle. It takes nerve. WT was a diamond play. They've got proeprty beside ABZ's Diavik. They decided to go back to oil. When they made the change, they did a consolidation of 16.5 for 1. I bled all over the place. The stock went down after that to 20 cents. Kaiser recommended it. I bought more. Now I wish I'd bought lots more, lots and lots more. Today it is trading up to 1.05 with a likely move to 1.25-2.00. But there are some of those penny dogs that have changed their identities to shells and averaging down would have just gien you more paper for your bathroom walls. Best to get out but if yo don't sometims a little money will make even a small move back up into a break even or a profit. I averaged down at 88. I'll likely average down at tax loss time. But then I've bought and sold WSP since they started exploring for diamonds.