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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (10831)	1/18/1998 9:08:00 AM
From: Ocote	Read Replies (1) \| Respond to of 79273

Thanks for the link on Security Traders. Its a real gold mine and no charge--yet. What do you think about "mining" for stocks in the oversold sectors by their Point and Figure method.(ie precious metals, Latin Am etc)? BTW, thanks for the comment on the Shark Attack folder. :-) Ocote

To: Doug R who wrote (10831)	1/18/1998 2:51:00 PM
From: ChrisJP	Respond to of 79273

Hi Doug, thanks for the links. I happened to see the Nightly Business Report on Friday. My 11 year old boy was accidentally watching with me. When I explained deflation could occur if Asian countries started dumping cheap good on us, he asked "Can't we pass a law to stop them from coming in ?" and I said " That's the exact type of thinking that caused the Great Depression !". Imagine, an economics and history lesson at the same time !! It looks like security trader thinks oil services are oversold -- Go NORT !!!!!!! Also, it looks like another 400,000 shares of BOST covered on Friday. It forced the stock up 1/2 point in 15 minutes before selling came in. I'm estimating there are still 17M shares of short interest left. Earnings are scheduled to come out on the 28th. This is the second time I've seen shorts cover in the low-mid 6's. How does the chart look now ? Do you think the shorts will cover before earnings come out rather than taking their chances ? Regards, Chris

To: Doug R who wrote (10831)	1/21/1998 7:33:00 AM
From: James A. Nelson	Respond to of 79273

If you are considering a gold mining stock, I would recommend looking into Richmont Mines (RIC). I have a small position based on a positive recommendation from a very astute analyst of the gold industry, Robert Johnson. They are due to announce 4th qtr and '97 annual results next week. As a precurser, they submitted the following announcement. They rarely make any out-and-out claims as to bottom line, but are well known for getting gold out of the ground. RIC is a Canadian stock which started trading on the AMEX last March, so it doesn't have much coverage yet. I have been waiting for a volume breakout, but I may increase my holdings even w/o one, based on their excellent track record. My TA skills are still pretty weak, but if you get anywhere near the West coast, I'll be a definate attendee of your course. Richmont Mines 1997 Gold Output 72,800 Oz Vs 30,100 Oz MONTREAL (Dow Jones)--Richmont Mines Inc. (RIC) said its 1997 gold production reached 72,800 ounces, up from 30,100 ounces a year earlier. In a news release, the company said the increase is mainly due to the start of commercial production at the Nugget Pond Mine on April 1. It said production from Nugget Pond was 34,800 ounces at a cash cost of $143 an ounce. It noted the Nugget Pond feasibility study projected 32,000 ounces at $153 an ounce. It said the increase in production is due to higher grades and better-than-expected mill recovery. Richmont said that for 1998, Nugget Pond's gold output is projected to be 48,000 ounces at a cash cost of $148 an ounce. Richmont said the Francoeur Mine produced 29,000 ounces of gold at a cash cost of $273 an ounce in 1997, down from 30,100 ounces at a cash cost of $275 an ounce a year earlier. The company said projected production for 1998 at Francoeur is 30,000 ounces at a cash cost of $271 an ounce. The company said its share of production from the Beaufor Mine was 9,000 ounces in 1997. It said that based on projections, Beaufor should produce 38,000 ounces of gold at a cash cost of $271 in 1998, representing 19,000 ounces for Richmont. Richmont said total estimated gold production for 1998 is 97,000 ounces at an average cash cost of $210 an ounce, compared with 72,800 ounces at a cash cost of $215 in 1997. Richmont said it recently repurchased hedging contracts representing 27,000 ounces of gold, and generated $672,000 in cash which will be realized as income in 1998, over the original delivery schedule of these contracts. The company's hedging program currently protects 48,000 ounces of gold for 1998 at an average price of $377, it said. Richmont Mines is a mining company.