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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: knight who wrote (103)	2/28/1999 3:16:00 PM
From: keith massey	Read Replies (1) \| Respond to of 5053

Your not the only one that saw the selling. Here is my reasoning for the sell-off in the .60's. 1. Momentum traders that got in on the high volume run-up to .72 are now making an exit. Most momentum traders don't even know the fundamentals of a company when they buy (or only know the basics). When a stock breaks to a new high on high volume they jump on board. They set their stops right away and don't hold for more than a couple of weeks. If I was a momentum trader (which I often am) I would also be making an exit right now. 2. $.65 is a large resistant point set back in Feb. March and April of this year. Any time you have support for a stock at a given price and it breaks through that support to the downside, the support level becomes a resistants level. People that bought back in Feb. March and April at .60-.70 are now seeing a chance to break even. At the end of Aug. these investors saw a 50% paper loss when the stock hit .31. Many of those people are happy just to get their money back and move on. 3. Since the news of a new business deal is not going to be out for at least a couple of weeks the well informed shorts knew that they can drive the price down for .65-.70 for a flip before any news was released. I don't know what the current short report is but I doubt that short sales have made up very much of the recent drop. It takes a lot of guts to short a stock that could be in for a very big run-up if the news is right. Best Regards KEITH

To: knight who wrote (103)	2/28/1999 3:44:00 PM
From: keith massey	Respond to of 5053

Now for the good news. Most of the reports from news letter that I have read (Kaiser, Bunka, Fagan) have put the cash value at $19-20 million. (For example, from Kaiser 1998 bottom fishing... Jordex is widely held and cash rich, with $19.7-million in its treasury However on Sept 30 JDX had $21,175,000 cash. If they have continued with interest income and the burn rate they had in the last two quarters they should have around $22-22.5 million in cash right now. Add to this the recent $700,000 from the private placements and you have a company sitting on around $23 million in cash (.74-.76/share) with no debt. This is $4 million more that a large number of investors believe they currently have. Hopefully in the news release coming next week about the closing of private placement they give some other information (e.g cash on hand, they are looking for tech. ventures, etc. etc.) We had a triple top at .55 during the past 6 months. In addition, the first pull back after the run-up to .72 went to .56 and then bounced. According to the basic rules of support and resistance, .55-56 should be a powerful support level for JDX. We are going to need some news or some good promotion to get this stock rolling. I am willing to sit and wait on this stock. At least I know the downside is fairly minimal at this point. Best Regards KEITH