Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Anne Lamb who wrote (29594)	1/3/1998 1:30:00 AM
From: maf	Read Replies (3) \| Respond to of 35569

To All Traders: Charting, Technical Resistance Points, Level Playing Field This short email concerns the recent price changes in IPMCF. I am interested to converse with other traders of this stock or other stocks that trade by the day, week, or other short term. Earlier last year, a CNBC analyst indicated that 1997 should be a good year for technical chart playing of stocks. Having said that, and myself being fairly young at handling my own investment affairs and paying dearly the dues of hard knocks, I have surmised that many of the so-called secondary and lower priced stocks seem to often make upward moves and then retrace nearly or all of the move made, be it a 50% move, 80% move, or otherwise. The 50% retrace rule tends to be an unwritten law but in the stock market, it appears that the rule is far exceeded. Assuming that a stocks' upward move is brought back by "shorters," how is the playing field fair when all the brokerages I know do not allow me to short a stock under $5.00 a share for the most part, and yet, there are shorters and manipulators out there even at the helm on the Street itself. Does anyone believe that it is high time that all investors who may choose have the same ability of shorting any stock at any price? If so, I would like to deal with the SEC in bringing about change to the rules and noting these problems of unfairness. I may have the attention of the SEC if I can get an arbitration case together shortly against an online brokerage firm. If so, I would like to bring up these issues if I have support for them. The recent rapid price rise in IPMCF and subsequent decline almost all the way to the languishing 1 1/8 to 1 1/4 level has again shown me how I can make a lot of money by looking closely at the chart and noting the latest resistance levels when IPMCF again makes its move upward. It appears to me that typically about two weeks or less are needed when a stock is beaten down for some significant retrace; not always true, but generally so. The latest victim in this is SYBS. Today's 3 1/2 to over 4 point downturn provides an excellent buying opportunity for a 1/2 retrace to the upside from today's closing levels. Of course a bad day in the market globally can cause SYBS to drop and test its latest multi-year low of 8 7/8 hit today. I have come to trust individual companies' stocks less and less and rely more and more on the technical merits of graphs and charts. I occasionally see a low priced stock suddenly bleed down during the trading day, within minutes a dollar or more per share is eroded from a start point of $7 or less. In extreme cases, I see severe pullbacks that really signify a turnaround, and within a 20-40 minute window, I have seen a stock go through a 30-40% downturn and then turn up over the same percentage in the positive. Anyone care to comment or discuss with me directly, my email is mfogel@home.com. Thanks and happy investing to all.