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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$ -- Ignore unavailable to you. Want to Upgrade?

To: JAS who wrote (2431)	1/27/1999 12:04:00 AM
From: FoxyLoxy	Read Replies (1) \| Respond to of 3156

JAS: My work precludes me from "following the market" on an hourly basis, let alone moment to moment. Getting in and out is just not possible. I must rely on good fundamental investing, that is why I invest like I do. I sometimes cannot get to a "screen" for days, so I do not take positions where I will need to "stay on top". Good luck. Mr. Meyer: I suspect if the stock consolidation goes through, you will get your $2 stock. I believe that after the consolidation, as per Zeev, the stock will drop again. I know that I will be looking to short Abacan again, as I believe it is still over-valued at $.25. (Normally one cannot short when it is trading under $1.00) When stocks are around the $.50 range, they can still "trade around", especially ones with large followings or unconfirmed rumors. I call it the "fractional factor", there will be some volume just because people will trade it to make fractions that translate to large percentages - like you said, a $.10 movement can be a 25-50% swing. This phenomenon can "hold a stock up". The real test of Abacan's value (or as I contend, the lack there of) will come post-consolidation. The stock will head south again, making your $2 target (or whatever the revised target will be - we can easily do the math - eg. a 10 for 1 consolidation will be a $20 target) a wild dream. I am guessing a 10 for 1 roll-back; making a $.30 Abacan a $3.00 Abacan, and providing enough room for some subsequent "melting", yet still clearing the $1.00 hurdle set by Nasdaq. Zeev, Razorbak, any predictions? Did anyone notice that Mr. Seaman (Director) sold his Abacan position on December 21, 1998 for $.50 Canadian. Posted on Bloomberg - insider trading report. That sure looks like a vote of confidence to me (sarcasm). Too bad he had to wait so long to sell it out. Bet he wanted to sell it a long time ago, but felt obligated to hang on (legally and morally). Someone asked for a "substantive" posting from me, was this more in line? FoxyLoxy