To: DIAMOND JIM who wrote (4832 ) 4/17/1998 8:03:00 AM From: Famularo Read Replies (1) | Respond to
DJ, technically on a chart, Ashton sucks big time. It seemed to me that $4.00 was a support level, which it may still be if she closes above $4.00 today. We need new buyers into the play and the way that will happen is by newsletter writers selling more subscriptions to new non SI readers. There still are many people who don't have a clue about the ADP play or SVB play. I still expect a sling shot effect in a smaller time frame than the time it took for Ashton to dig a hole. When Ashton broke $4.00 yesterday, I was excited and quickly called a broker and placed an order to buy 15000 shares at $3.51 and 20000 at $3.40. My purpose of these orders was in anticipation of a bargain while other investors panic after it broke $4.00. Obviously, it did not happen. I am not sure how much time left we have before Ashton turns around. It is my opinion that people should invest what they can afford to tie up for unknown time. Buying at these prices are OK, if you plan to hold on to the next speculative project phase with K14, beyond 450t. I am expecting extraction of at least 3000t samples in early Jan/99. This is not a fact, it is just my gut feeling with the research I have conducted on Ashton. On the other hand, which is my case, I have a nice healthy position on Ashton which I started to accumulate years ago. I am looking for the right timing to buy more. When is that timing? Don't know yet. If she falls, I am ready, if she starts moving up, I am ready. Time will tell. This weekend Brain Fagan is giving a presentations on Diamonds in Alberta at the Toronto Energy and Mining Conference. Happy Trading.
