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Gold/Mining/Energy : Tracer Petroleum (TCXXF) -- Ignore unavailable to you. Want to Upgrade?

To: Saracen who wrote (691)	5/9/1998 8:33:00 PM
From: Jim Daly	Read Replies (1) \| Respond to of 1261

Hopefully holding out news to release at the annual meeting. That would tend to prop up the price after the split. If they released the news now the stock would run up on speculation and bottom when the split is passed. My guess is that there's nothing firm yet. Nothing more firm than a handshake from the Indonesian government. (slam intended) Lets say that Tracer comes out monday and says "Hey guys! looks like we got our property. Maybe. Kind of". The share price would fly to .25 to .31 easy. Maybe higher, on a couple days of heavy volume. Then the look before they leap guys would finally get around to some DD and drop it like a hot potato. Then the shorts come in,down goes the value. Back to the .12 /.18 spread or lower, 'cause now they're pissed. Then after the meeting the company has no good news until the quarterlies is released. I think any news in the next couple of weeks would be a mistake on a grand scale. I also think that the company and individuals in the company might be accumulating the stock at these prices. Would make sense.Volume has been up but the price has been holding. That tends to imply accumulation. The fact that the share price hasen't crossed the all time low of .12 means that there are buyers at that level and all the way up to .18. If the price where to pass below .12 it wouldn't stay there long. The buyers would come out of the woodwork. Hell in at .12 out at .18 thats 33% and a real nice pop. Even out at .15 would be a 20% and a quick profit. Ed Mowatt did say that they won't release ANY news until there is something to say. I feel like the cowboys in the old westerns before all the Indians in the world came riding down on top of them. "Quiet, too quiet"