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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Donald E. Aken who wrote (5489)	11/11/1997 2:16:00 AM
From: Doug Meetmer	Read Replies (1) \| Respond to of 20681

Why do you believe the shorts are gearing up for another attack? On the contrary, I have a feeling that we will hit $10 before we hit the $5's. This stock seemingly has strong support at around $5.50 and resistance at about $10. We snapped back rather quickly after the recent drop and perhaps the drop today is some friendly profit taking. We are waiting for news and everyone knows it. Don't you think these market makers are aware of what drives this stock? They will most likely get on the short side AFTER another run-up but likely not until then. What could hurt us is either 1)bad news from the company 2)flaming by the press 3)long delay without a news release 4)market crash 5)selling by insiders. If the COC numbers are as good as the SRK numbers then we will take out $10, probably hit $12 and then pull back. Any other news such as financing deal, NASDAQ listing, or institutional buying could change my targets to the upside. Good luck all! Doug