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Gold/Mining/Energy : RED EMERALD RESOURCES -- Ignore unavailable to you. Want to Upgrade?

To: hugh thorne who wrote (119)	7/31/1998 8:35:00 PM
From: hugh thorne	Read Replies (1) \| Respond to of 862

Haywood was in buying almost everything today, as they are closer then many of us, let us assume that they know they are not pissing away capital. Given that the VSE continues to enjoy major lows for the year, it is no suprise that all the supply over the last weeks has been from the street firms. They are not part of the loop of Neary and so, i only guess, they are flogging their positions to shore up their capital in a very depressed VSE market. The last 2 trades, of 5,000 each at 70 cents, came from Brink who did not show up on my list of net sellors for june and july. Again, i suggest that we are in the "restoration" phase of other firms capital positions given the demise of the index. It will be interesting to see if the reasonable liquidity of this week continues: for all those who want to pick up 10 to 15 thousand at these prices, i suggest the risk has moved from price downside to simple available liquidity at this range.