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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE) -- Ignore unavailable to you. Want to Upgrade?

To: Joseph LEE who wrote (129)	5/19/1998 4:40:00 PM
From: Baywall	Respond to of 210

Joseph, I think what you refer to is called a "selling climax". More conservative investors may wait until the price rises and crosses a well-defined trendline. The current price is at the area the principals will finance. I believe that 15 cents is the minimum allowed by regulation. Recent trading volumes have dried up, maybe a good sign. Those who wanted out have left, in my opinion. In talking with management and in their information circular, they expressed a desire to obtain a measure of control. This was to facilitate the development of the company in an orderly fashion. Thus I feel that the share for debt financing mostly involved management. If any "outside" creditors do exist, management's desire to keep the stock tight and retain significant control probably resulted in restrictions on these shares. For all shareholders sake we would not want big holders prematurely selling their stock. Investors who purchased stock at higher prices may wish to sell should the price rise. I feel that price sensitivity will be maintained until a major supply level is reached. This is a guess only. Any favorable news can have the potential to develope sufficient demand to push through these supply levels. Currently I am waiting patiently. My purchases are complete for the time being. LVL

To: Joseph LEE who wrote (129)	5/25/1998 11:54:00 AM
From: Baywall	Read Replies (1) \| Respond to of 210

Joseph, I found a system which closely corresponds with the method mentioned. 1. A long decline (optional) is required, usually ending in a climatic volume. 2. A downside break below the established range (16 cents Geodex), which may or may not be accompanied by heavy volume. 3. There is a post-climax rally, then a meandering for a short time of the price. 4. A sharp upside reversal through the trading range from which the stock has just dipped. The trading range since Dec.9/97 (Agate 4-8 cents). For Geodex, multiply by 4. Ideally, the reversal should be accompanied by strong volume to confirm the significance of the move. For this system to work, the price should dip below 16 cents. However, at this level, periodic volume spikes have occurred over the past 4 months, which indicates that good demand exists here. It may be difficult to get far below this level. If it does so on large volume, then a selling climax under volume is possible. The system appears to work well in theory despite two strong opposite forces being so close together. The system advises to buy immediately after the upper trading price has been crossed (32 cents Geodex-my definition). An earlier entry point is also possible under certain circumstances. On April 23, 37000 shares were sold by one seller, and on May 22, 17000 shares were sold by two sellers. These were not indicative of any selling climax as the price should have reversed, especially after Apr.23. This system does not require heavy volume to call a turn, but requires a dip below the current trading range. LVL

To: Joseph LEE who wrote (129)	6/15/1998 10:33:00 AM
From: Baywall	Read Replies (2) \| Respond to of 210

Joseph, On Friday, the bid prices showed some volatility. The morning started with 17 lots at 15 cents. After a portion was sold, the remainder was taken off the market. The next bid came in at 13 cents. It too vanished to arrive at the current 11 cent bid. The past week has seen the 16 cent level penetrated. Whether this is an action to shake out weak holders, or is in response to a declining VSE index, remains unclear. An analyst with Canaccord Capital is reviewing the various proposed properties to determine their eligibility for financing. I saw message #140 regarding a revision for shares for debt financing. 15 cents is the minimum at which financing can occur. Management must be confident that shareholder values can be increased. Why then all this effort? They could have easily sold their shares over the past two years and left with a profit. I am waiting for a news release describing various properties and financing provisions for them. If such occurs and is favorable I will be in the market. When analyzing individual mining stocks I would like to see the industry in an uptrend. Any price rise now will be against the market. The saying: A rising tide raises all ships and vise versa, applies. Kaiser is in Vancouver today describing his bottom-fishing strategy. Anyone attending please ask him about Ascot Resources and why it is rising. A year ago it was a buy and recently a sell by Kaiser. A special warrant financing for two properties made the price go up from 9 cents to a high of $1.03. Is it this easy? Hope it all goes well. LVL