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Gold/Mining/Energy : Dayton Mining (DAY) on TSE & AMEX -- Ignore unavailable to you. Want to Upgrade?

To: Pierre J. LeBel who wrote (184)	5/16/1998 2:44:00 PM
From: James F. Hopkins	Respond to of 568

Pierre; I also looked at the OEX puts, while I see a correction coming if the Supercaps fail to take out their high set on April 4th in 55 trading days, then the 55 day rule will rule and down we will go. I do not understand the 55 day rule..but it seems to have a history of being reliable. I did not get any OEX puts as they seem to have a lot of premium built it. If I can time it I may try to short one of the trust funds..such as the SPY, DIA or MDY. Playing the short side is not normally my bag seems you have to be faster than I am to make much off of it. I have doubts that the Super caps can get back to their April 4th or 5th level before the 55 trading days is up. It has something to do with short term credit, and the derivatives market, that any time 55 trading days goes by and the market fails to climb above her old high a crunch comes in the leverage system employed by the brokerage houses. To me this shows up best in looking at the 50 highest market cap stocks in the S&P 500..as that top 50 is over half the total market cap of the S&P..and they are doing poorly compared to the others. As for Day I will have to start watching the spread between the TSE and the AMEX again..I didn't even look the other day, with this batch I'm now averaged in at 1-11/32, with what I've traded on her so far she is not subject to hurt me over all even with a drop to about 1-1/8 which I doubt will happen before she makes 1-5/8 again. Jim

To: Pierre J. LeBel who wrote (184)	5/19/1998 2:12:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 568

Pierre; The market is putting up a fight today , but I'm still looking for correction by May 5th to 8Th maybe not a big one but still enough that your OEX puts ought to do OK if you didn't pay to much for them. I'm hoping this is the final shake out in DAY before another big buy. I've bought more at 1-5/16 and again at 1-1/4 and may try for some at 1-3/16 but I now need to free up some powder from some where else. What's your take on this drop in DAY ? Jim