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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: rampage who wrote (759)	7/15/1998 9:39:00 PM
From: AL Berta	Read Replies (3) \| Respond to of 1288

I'm betting Midland was a short cover. As floj said, there is significant support at $1.20. Chances are, there would be a bounce off $1.20. If I had shorted at $2.50, I think I'd be happy with the gain I had to this point. Keep in mind, the flow report from Johnny Rhodes is due next Wednesday and there is the chance that people are going to start building positions (I will be). If you're short $75,000 worth of stock and you could cover today for a nice $21,000 profit for the week, what is the point in risking another opening? While I generally agree with floj about the possibility of seeing $1.20 before the end of the week, I disagree with the prognosis for the future. Westfort, has a great asset and is a well run company. I'll bet her a Bar-B-Qued brisket of Alberta Prime that August 20th close is $3.90 or better. There, the gauntlet has been thrown. Regards, AL.

To: rampage who wrote (759)	7/15/1998 9:56:00 PM
From: floj	Respond to of 1288

Hi Rampage: No, I don't believe we'll see 1.20 tomorrow but it is a critical day, the sell off can not continue into tomorrow. I'm hoping today's panic selling turns out to be a one day reversal and we see a strong rally. If it does turn out to be a one day reversal then the intra day low of 1.72 changes the boundaries of our trend. The old boundary lines are no longer valid. If the sell off does continue then techncially this leads to a reversal and the future of WT will not be a bright one for a long while. Also remember this is just one interpretation and WT could easily turn around and prove me wrong. Flo J