To: Jon Matz who wrote (2782 ) 5/22/1998 12:21:00 PM From: Mike McFarland Read Replies (2) | Respond to of 34075
re all the comments about loading up everybody who has the thread bookmarked should have picked up a reasonable amount of shares today. Now we wait for the message to get out. There are probably two ways to play it--I learned this lesson with another of my stocks this year. You can get in very early and wait for the news, that's good for a couple hundred percent gain which has already occurred for the folks who were in under dime. Now those people feel compelled to get out to lock in gains, I know I did with one of my stocks which ran from 1.5 to 4.5...I cashed out and then watched it go to 14! But you have to look at risk--a bird in the hand... Anyway, then there are momentum riders. The news is out and it runs another 1-200%. That's where I think I am at for MINE, in at 3/8, looking for a buck. Then there are the investors. On a stock like MINE they might have a basis of 50 cents from the first day it started trading. If the story unfolds an this becomes a nice little mine (well, actually, with those numbers I guess it would eventually become a friggin HUGE glory hole!) with a low cost of production, you watch your investment go to, well, first guess five bucks, I don't know, how many shares times the value of gold in the ground--maybe higher? Each type of person takes some risk, and can still get about the same reward--this is, a couple hundred percent. In a market like this, where all the big cap momentum is pretty much played out, I'm willing to take my chances with a BB. But that doesn't mean you should spend ALL your cash on it I think. Maybe a third of your cash, that is what I did. Oh, I guess there is another type of investor, the one that gets in at a nickle and holds til the top. But he doesn't post on SI!