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

To: JERRY GACH who wrote (29079)	12/7/1997 5:25:00 PM
From: Bill Jackson	Read Replies (1) \| Respond to of 35569

Jerry; The published short position is not for the pros, that is for the suckers. The shorts have legions of undeclared short positions in offshore jurisdictions beyond audit reach of the SEC, and even in dealer positions that they can hold longer than you or I. Once the shorters have done their homework and concluded a stock is a scam, they can short safely with the sure knowledge they are safe. Just like BRE-X, the insiders who knew BRE-X was a scam were safe to short and did so, all the way down. Why do you think there was big volume ion BRE-X under 10 cents, shorts covering, not new investors. Short positions of millions of shares of IPM built up day by day are more likely. The short positions will provide the current support at $1+ as they are covered, after that the true market volume and potential wil emerge, possibly a far lower volume/price. If you look at the aggregate volume after the fall to $1+, estimate that 75% of those trades are short covers, and you will not be far off. True a few of you bought low down, but most exited. Note the posts/day on IPM. Many have gone away. Shorts are under no enforceable obligation to tell the truth, so they lie, wall to wall like a fitted carpet. The inclusion of an offshore transaction limits the inquiry powers of the SEC, they can go to the trade(say 100,000 shares sold from Banco De Suisse..., but they cannot find out if those are real shares or short sales, as long as all else is OK. Once shorts get known in a stock, beware, it might crash, especially if a scam risk is there. Even good stock can be hurt by shorts, but after you show fundamental values, and buying comes in, they exit. Bill