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Gold/Mining/Energy : Winspear Diaminds (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: Cohiba who wrote (119)	2/1/1999 9:17:00 PM
From: Letmebe Frank	Respond to of 1172

Cohiba: In addition to "the momentum players slowly getting out like they did last summer", we may see some forced selling if WSP closes below 3$ for a period of time. As you know, WSP became marginable when it closed over 3$. Those who bought on margin may be subject margin calls. I talked to Greenline today, and they give you a week grace; that is, if the price remains below 3$ for a week, and you are using WSP for margin, you will have to cover your margin position. So what I see possibly happening is some selling pressure as we get closer to 3$, and possibly down-draft bringing WSP to the 2.40 range, before it consolidates and continues its rise. Note this is just my speculation on what could happen, in the absence of news, or renewed buying interest. It can change quickly with a TSE listing, drill results, takeover speculation, European buying, and who knows what else. And if you are wondering, I have a trading position on margin. Not sure on which way I will handle it. But with an average price in the 1.70's, I'm not to concerned!! I say "the long haul is the best haul"! And it will apply to WSP for sure.