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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Don S.Boller who wrote (237)	12/10/1997 5:51:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 8010

If this is a reply to what I said, perhaps I had better restate. I am holding PAASF and have no intention of selling out for a small profit. I think it has a potential to triple with an increase of a few dollars in the price of silver. I was warning against imagining that one is a genius as a result of quick profits in commodity futures contracts, and using those profits to buy yet more contracts at the higher price. This is known as "pyramiding." When one is excited it is easy to imagine that things will keep going one's way. Then even if you are right on the fundamental direction of a market, a brief correction can lead to your broker's liquidating your position and dumping you out with all your money gone. My own belief is that very few people have any business trading futures. The ones who do should be hedging, not speculating. If you ask a broker who is honest, you will be told that virtually every individual investor who goes into futures ends up losing money. The analogy with microsoft stock does not hold with commodities.