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Gold/Mining/Energy : Crystallex (KRY) -- Ignore unavailable to you. Want to Upgrade?

To: Carl who wrote (6081)	3/4/1998 8:50:00 PM
From: flightlessbird	Read Replies (1) \| Respond to of 10836

Carl: you have some points with which I agree. This asensio character is: 1) well-educated and 2) not stupid. Though the two factors appear redundant, make no mistake, they should be separated. Well-educated does not account for ethics and a feeling of omnipotence. If a well-educated man's ego needs such stroking that he must cut the boundaries of what is legal, he might be considered "stupid". His educational pedigree ultimately determine very little with respect to street smarts or the desire to defraud. Many of my fellow lawyers came from fine educational backgrounds and are either incompetent or slimeballs (many more are not just so nobody thinks I am cracking on the profession - you have your losers in every profession). As for the "not stupid" component . . . well, how to say this. I have been up against the slimeiest of the slime lawyers and have both won and lost. The truly slimy ones, unfortunately, are usualy just a bit smarter than the rest. But they do have an achilles heel. Their ego. They do believe no one can take them down. And when they do get taken down, they will simply move on to the next target (perhaps an easier one) and reassert their dominance. This move by Asensio is so brazen as to literally take everyone aback. I do believe he has truly barked up the wrong tree. When KRY discloses its involvement with Venezuela's reformation in the mining industry, assuming it is as significant as everybody is assuming, it will immediately discredit the entire basis of his so-called "reports". Add to that a legal victory and Asensio may not even be worth suing as he certainly won't have deep pockets after he covers. If the news is unleashed with Venezuela, I expect to see serious criminal prosecution against Mr. Asensio. I do wonder about one thing: I cannot at this point tell if Mr. Asensio orchestrated this to cover at a lower price and make up for the loss he has already experienced, or whether he indeed stands behind this recommendation to short and was in fact shorting further today. Curious question. Either way, it is irrelevant to KRY long-term. If he is covering, enough shorters probably shorted today on his advice to keep the short position even. If he is still shorting, all the better when the news finally does hit. At the very least, this report today reveals the caliber of people shorting this stock. I had been quite perplexed at who constituted such a large short position on this play. This explains quite a bit. sorry for the ramble.

To: Carl who wrote (6081)	3/4/1998 9:25:00 PM
From: c.r. earle	Read Replies (2) \| Respond to of 10836

Carl, You mentioned that apparently he (Asenio) remained unscathed. That is incorrect, he has been successfully sued for doing precisely what he has done today. Check for verification on SH. To all: Having done a significant amount of reading today on this Asenio, I do not think it would take intense intellectual effort to realize exactly what we are dealing with. Another prime example of how some people will attempt to make money, by unethical, and certainly very possibly illegal means. Talk about trash. I would love to see this individuals trading pattern in KRY. It is a further black eye on this industry. There needs to be a significant amount of transparency brought into this industry. It is truly shameful how many people look at white collar crime.

To: Carl who wrote (6081)	3/6/1998 12:24:00 AM
From: Michael M. Cubrilo	Read Replies (1) \| Respond to of 10836

Thanks for the comments Carl. I try to separate my emotions from my investing, although it has been very difficult to do. When I look back over the last 10 years, when I invested and emotions played a role, I generally lost money. When emotions were controlled and I looked at the situation from a logical and analytical perspective, taking into account all recent activities and information, and based investment decisions on that, I generally made money. Again, I have always remained long on KRY. However, lets control our emotions and simply look at the chart. Does this action seem like it has happened before? Every stock which has had a major runup has a major correction. Look at CRN, WTC, KRY, any number of speculative issues. Boring, solid growth stocks with real earnings like Shaw Cable (SCL.b) and ATI Technologies (ATY) show gradual, sustained growth. KRY is not in that group. Hence, is will rise and fall, for whatever reason, caused by various external factors. Whether Asensio is correct or not is, unfortunately, irrelevant. The fact is that the media affects the minds and opinions of the viewers. The INFORMATION may not be true.... but the fact is that this information WILL affect investment decisions, because it sways opinions. Therefore, the negative publicity will damage the stock. In time, it will recover. The low will represent a new buying opportunity. The new 52 week highs were a selling opportunity. For example, during the war in Yugoslavia, the Serbs were described as aggressors and occupiers. The FACT that they have lived in parts of Eastern Yugoslavia (Croatia) for over 500 years was irrelevant - the media painted them in a certain light, so the general public consumed the information as uncontested truth. No one should confuse the information received from TV or the Newspaper as the 'truth'. It is simply that - information: maybe good or bad. We need to be smarter than those trying to manipulate us. I feel that Asensio is manipulating the market. Even if a lawsuit is successful, he doesn't care. In the BIG picture, if he makes several HUNDRED million shorting the stock, he doesn't care about a lawsuit that may cost him a few million, 5 years from now. These cases will take YEARS to resolve. By then, people will forget. It is done in business, unfortunately, on a regular basis. KRY wil recover, but I am glad I sold 70% of my position at $10.60 and $11.40 I will buy back in, but not yet. I feel that it will fall further. I will monitor the chart, and not this thread, for the time that I feel is right to get back in. Charts are unemotional... but people are. Especially when money is involved. mc