To: Buckey who wrote (4696 ) 5/22/1998 9:57:00 AM From: Steelguy Read Replies (2) | Respond to of 11676
Well, another lurker pays his money to speak his mind. Good morning all. First of all let me say thank you to all of you who post regularly on this thread and other SVB threads on SI. I have been reading and appreciating your input for close to a year now and finally " bellied up to the bar " yesterday to join as I needed to say something on another thread regarding a Nasdaq bulletin board stock that I am in. Boy, you guys think that people play games with junior mining stocks, yikes, you should see the market maker games played over there!! Fun though. I have no earth shattering info. or technical wizardry to impart on any of you however I have been " investing / trading " Canadian mining juniors as well as other stocks for the past 4 years and have tried to learn what I can to make some money. Certainly I have not perfected this yet or I would have paid my $ 125.00 a lot sooner now wouldn't I ? As for Donner and NAI, which are the two that I have owned many times in the past year and am currently still in. My thoughts are this, ever since last spring with the " you - know - who " scandal investors and traders have become very, very, fickle. It seems like everyone still WANTS to believe that a company can find a mine but don't have the stomach to watch the fluctuations that come with such a play. In my own opinion, this has allowed us to play a new game with these stocks and make money from the psychology surrounding the play. As John L. said in his post last night, he picked up more NAI and feels good about his position right now. I agree with him, he will make money at these levels, OR , should I say, he will be in the money at some point at these levels but will the trigger be pulled to protect profit? That is the key. Now, don't think that I am some greedy trader who likes to bail out on every stock that I find is in the money BUT, these plays can be great if you establish 1) an investment position. and then 2) a trading position. At these levels, it is easy to scoop a nice trading position because the volatility over the past two days will allow one to see daily action that on a percentage basis will be a nice hit. ie: NAI at $ 1.00 to NAI @ 1.20 is a sweet hit on a percentage basis and assuming that we are all using discount brokers we can continue to book profit with the fluctuations. Booking profit makes you feel alot better about your investment postion which I am holding on both stocks because I like everyone else here can not fathom my anger if I am out of these " puppies " and they come in with a core that knocks our socks off. This I believe is possible here and will never give up my investment position until they say " hey loser, your shares are never going up. Nothing in the ground " Believe me, I have experienced this many times and have the worthless paper to prove it. However, juniors do hit on economical deposits and they will continue to do so. This play right now is a great one in my opinion but we need to accept that the stock is going to be a roller coaster for the full spring and summer. Let's hope we can all profit from this action. Wow, who do I think I am posting a long winded one like that? Accept my apologies for the long post and my thanks again for your info over the past year. My posts from now on will be of normal length. Happy investing/trading