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

To: citydi who wrote (6035)	12/1/1997 7:56:00 PM
From: GlobalMarine	Respond to of 20681

Citydi: It's interesting that whenever a stock rises, we pat ourselves on the back and attribute the move to good fundamentals, mutual fund purchases and the like. When a stock weakens in prices, it's always short sellers, market makers, or something else that's supposedly benign. Since this summer, significant price moves in Naxos seem to have always preceded signficant news, so I'm a bit concerned. The DDs, however, often have one-day spikes in volume and a corresponding price move, so I'd wait to see what happens tomorrow. If the stock drops another $2 on heavy volume, that almost certainly means something has gone awry. Rand

To: citydi who wrote (6035)	12/1/1997 7:56:00 PM
From: HungryLion	Read Replies (1) \| Respond to of 20681

Compare NAXOF market cap with other mining speculations (eg Ashton Mining)who are in early stages of exploration. NAXOF is enormously overvalued compared to the rest of the sector. This is a pink sheet stock with virtually no following. How do you explain its ridiculously high valuation? HL

To: citydi who wrote (6035)	12/1/1997 9:09:00 PM
From: Dr. JMJ	Read Replies (1) \| Respond to of 20681

Citi- I think Fridays price action was in anticipation of an announcement possibly over the week end - todays action I think is much more troubling- Naxos has always been prone to leaks- I think todays action is telling us we have some bad or not so good news coming- I hope I am wrong.