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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (877)	10/21/1998 12:09:00 PM
From: keith massey	Read Replies (2) \| Respond to of 4467

Hey Chief If the new electronic trading system in Canada allows block trades to go through on another exchange the houses will not have the need to manipulate the price of a stock up and down to make crosses on the TSE. I see this as a bad news for the day trader who relies on these price manipulations for a living. As for the transports - most of the transport stocks have made a huge jump of the bottom in the past week. My feel is that this jump was mainly caused by bottom fishers and the large drop in oil prices in the past week. Many people may have thought that OPEC had final got their act together and could keep the oil price elevated. I think fundamentally this group is still weak. Although most of the load numbers during the past couple of months are relatively high, any weakness in the U.S economy will cause these load numbers to drop like a stone. I also think oil will see another day in the sun soon based on inventory numbers. I don't think we will see the run that start Oct 9 in the transports last much past today. Three of the biggest airlines are announcing earnings today. Any good numbers have already been factored into the price but I think people will be shocked at how much earnings have gone down in this sector. Best Regards KEITH