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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (26697)	11/16/1997 1:38:00 PM
From: John Wetterau	Respond to of 35569

Richard, "longs are too long, and the shorts are too short." Not bad. Probably the line of the day. Thanks Ron for the info, very helpful.

To: Richard Mazzarella who wrote (26697)	11/16/1997 2:17:00 PM
From: bradley g mooney	Read Replies (1) \| Respond to of 35569

can sombody tell me the defference between the conversion rate,between the head grade and the recovery process?

To: Richard Mazzarella who wrote (26697)	11/16/1997 4:16:00 PM
From: Bob Markley	Read Replies (1) \| Respond to of 35569

<< It's very clear that longs are too long and shorts are too short. Perfect chemistry for a market mess IMO. >> Richard, interesting insight. If I could add to that,... both longs & short have had to go through a major 'perception of reality' change in the last 24 hrs. The longs we overly optimistic in expectation of .25 opt Au. The shorts totally held the view that it was a scam & going to zero. Who is stronger??? Who is right??? The shorts must now view that they must cover & perhaps the best they can hope for is say $4,....IMO. The act of them covering will create demand. Any amount of solid buying by Institutions will a) stop the price from falling b) bring in new buyers & c) cause the shorts to cover. The institutions NOW have more power then the shorts & can trigger a short squeeze. All the Institutions have to do is take all that is offered for sale & supply the demand of the shorts at a much higher price (say $8-10). It's a 'no-brainer'. They can lower the average cost of their 'core' positions. The longs are sitting better then the shorts because there is a 'floor' on the price. Regards, Bob