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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: soxan who wrote (12204)	4/23/1998 2:52:00 PM
From: Jim	Read Replies (2) \| Respond to of 20681

To All, I know today Naxos has dropped off a little from the good run-up in the price that we had yesterday. Volume is still good though. I just wonder if yesterday's positive swing was maybe due to the overall market craziness. Everything is so expensive, P/E's are high and institutions keep getting HUGE amounts of cash from 401k plans, IRA's etc. that they have to put somewhere. I watched the low priced "internet" stocks shoot up ridiculously high the past few days and I'm just curios if anyone else might feel that the move in Naxos yesterday was more a matter of "Hey, here's a low priced stock with some potential - and what the heck...how much lower can it go ? Let's try to make a quick buck for our mutual fund shareholders without paying inflated prices for some of these other sectors." Factor in the recent gold uptick and maybe this is what we saw yesterday. I don't base any of this on fact of course, it's just a thought that I had. Of course, I am really hoping that it was due to these same institutions realizing that Naxos is on the way to proving out great reserves. Any thoughts ? Jim p.s. Soxan, you recently asked if Russ Smith's position at Naxos had been changed. I'm not sure what you meant by that, but apparently he has recently been spending some time away from the office. Chicago and next New York to promote Naxos to the big money institutions...