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

To: Bruce McGaughey who wrote (27181)	11/17/1997 2:08:00 PM
From: J.L.	Read Replies (1) \| Respond to of 35569

Yes, I'm curious as to how those with "level 2" see things especially in regard to shorts. Please let us know. Regards, JL

To: Bruce McGaughey who wrote (27181)	11/17/1997 2:57:00 PM
From: Robert Knight	Respond to of 35569

Bruce, The same group of MM's have been flipping from the bid to ask all morning. NITE has been the main culprit along with PERT, & FAHN (short houses). MASH has been a seller, as well as NFSC. Both of these firms are the wholesalers for Schwab & Fidelity. I was right earlier this morning in my prediction of them walking it back down. These guys know that they have control of the stock until the institutions decide to become buyers. The shorts know that margin calls are going to start to happen so they have no incentive to allow the stock to go higher. Even with small retail buying here they can afford to sell you stock down here. The reason being that a close lower than where most people bought today will further break the "sentiment" of this stock. Remember these guys are professional psychologists who want you to panic and fearfully sell your holdings. I am not a buyer YET as I feel that we could trade lower. I could be off base in that assessment, but I will jump on more shares when I feel that these guys are done playing their games. IMO institutional buying will come into the stock once the feel that the "trees have been shaken". T Hoare's spec buy only solidifies the consensus of the thinking of the bulls on this thread. Where IPM slipped between the lip & the cup was when they raised the expectations of the street and misfired with a good, but not great announcement. That just presented the shorts the opportunity to rock this thing into next week. It might behoove us to get them somewhat out of the way as they have the chance to cover some down here. Though it pains me to say that as I would have liked to see them get squeezed, but thats life. I do not feel that they will try to squeeze to much more out of this thing as they already know that IPM does have some powerful friends and they could get burned. The Funds might very well be allowing them to get out while presenting them with an opportunity to pick up very cheap stock. Win/Win for both sides. All this is guesstimation on my part. We all know that us little guys get caught in the wake of what the big guys do. Now lets see how we close.... 3 1/32 - 3 1/16 1,015,700 Robert