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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: MARK BARGER who wrote (2585)	7/2/1998 10:34:00 AM
From: mph	Read Replies (1) \| Respond to of 2841

Maybe folks are waiting for earnings and the conference call (if there is one and there should be IMHO). I put in an order today to average down...perhaps I'm in the extreme minority. Of course, I was already in(but not for much!) Just my two centavos. mph

To: MARK BARGER who wrote (2585)	7/2/1998 5:20:00 PM
From: Nero	Read Replies (1) \| Respond to of 2841

I think that the reasons for the pounding are straightforward. 1) Oil prices plummet 2) ECGOF serves energy industry -- so their future dims. 3) Management lost credibility with yearend forecast that fell short. 4) DBCO buyout debacle 5) Momentum sellers 6) Market flight to large cap firms. Since I still own the stock, I obviously don't agree that these factors warrant ECGOF trading at a PE of 6.5, but for ECGOF to soar again -- other investors must become convinced there will be continued growth in earnings and stock price. I'm afraid that it will be some time before we turn the corner. nero