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

To: Bruce McGaughey who wrote (27236)	11/17/1997 8:09:00 PM
From: Robert Knight	Respond to of 35569

<Robert Knight- How could you tell if the the shorts were covering ?? Have you seen any indication of that today ??? Thanks for all your info. > Bruce, The short houses as I mentioned were quite proactive with the stock throughout the day. NITE, FAHN, PERT, to name a few. They were forcing the stock lower and then moving to the bid to collect shares. You can watch this happen right before your eyes via the Level II. Alot of selling also coming through MASH & NFSC which is the little guys selling through their Schwab & Fidelity accts. Though I hate to say it I expect another down day tommorrow as the margin calls kick in. I am not saying this to instigate anything but merely am trying to keep you informed on what is happening so one can make better decisions. The shorts are a ruthless bunch who do not care for any of us. All they care about is making money any way they can. Witness HungryLion. Very good moniker for a professional short. Aggressive, on the attack, rips apart its prey, believe they are King of the Jungle. Funny thing is every now and then they get stomped by that big old elephant:-o What to do? I will be looking to buy when this thing reaches its bottom. I hope I am wrong and the institutions step in to stem the short tide. I hope people who are margined are not forced to be bought in, but some people might be in that situation. Believe you me the shorts know the key levels of support and what levels need to be attacked to spur margin. A move from 5 7/8 intra-day Friday to a close of 3 1/16 is quite a down move. I wish we had a white knight to ride in here to support bids as it did not happen today. It is disappointing to see the "I told you so's" being tossed at a few people. This play is far from having its final act being played out. It is unfortunate that some will not be around to see if Romeo does get Juliet. Good luck to all Robert