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

To: Wizzer who wrote (1273)	11/17/1998 6:10:00 PM
From: Buckey	Respond to of 4467

Wiz - Not even a good daytrade cus we dont even know if its worth a penny with 130 MM shares out.

To: Wizzer who wrote (1273)	11/17/1998 7:10:00 PM
From: Ward Nicholson	Read Replies (3) \| Respond to of 4467

Wizzer: There is certainly a great deal of speculation going on. May be a good day trade, maybe not, either way it requires rather large "cajones"... Well said. Let me just add a bit of personal experience with a situation like this for whoever may benefit from it: Back in 1994 and early 1995 I played good ol' Bramalea, formerly BCD:TSE. This was in the days when I didn't know how important the word "sell" actually was in terms of capital preservation and knowing when the risks greatly outweigh the rewards. I lost around 10k on BCD (that ticker is burned into my memory) when I finally took my initial loss. However, since I was still indoctrinated into the buy-and-hold strategy of playing the markets, my inclination was to wait until I thought it had bottomed out and re-take a position. I did. After-all, this thing couldn't just go to zero, right? Well...to make a long story short I lost about another 5k on it until it was trading around the 0.25 to 0.50 area when I did make a few bucks back by flipping it for 0.10 or 0.20 (PHV is in that exact position now). I was out of BCD when one fine morning the stock was de-listed from the TSE. To this day I thank God I was out of that stock when that happened. So, I guess the point of all this is just to say that yes one could make a few bucks flipping PHV at this level. However, out of all the tickers out there one can find more fundamentally sound companies with high enough volatility to trade within and make the same money. When it comes to situations like PHV I don't even consider going long now. I might short PHV, but I would NEVER go long simply because of the unexpected negative shit that can happen - even at mid-day. In fact, I'll bet that a lot of that buying today was simply short-covering. Anyway, I didn't mean for this post to be this long or for it to be a lecture, but I hope it serves someone out there well. Even daytrading PHV from the longside I think one is in a position where the risks greatly outweigh the rewards. WN