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To: the Chief who wrote (14177)	3/28/1999 8:12:00 PM
From: LABMAN	Respond to of 37507

FROM REUTERS Sunday March 28, 7:44 pm Eastern Time Bay Street Beat: Spring comes for some sectors By Sarah Edmonds TORONTO, March 28 (Reuters) - Springtime has crept stealthily in for some sectors of the Canadian market. Although the gains are not universal and the erosion of investor confidence has taken its toll on sectors like the interest-sensitives and the banks, there are faint stirrings of life in some regions of the market that have lived through a seemingly endless winter. The recent rebirth of interest in oil and gas issues and U.S. Baby Bell Ameritech (Corp.'s) (NYSE:AIT - news) C$5.1 billion deal to buy 20 percent of BCE Inc.'s (Toronto:BCE.TO - news) Bell Canada attracted the lion's share of attention last week. But while investor attention was diverted, Toronto's communications and media, utilities and consumer products subgroups approached or bested their all-time highs. The advance in utilities, largely attributable to trickle-down gains from the BCE, had the most obvious cause. ''So it seems now that we're running with a bit of momentum here,'' said Ron Meisels, president of P and C Holdings Inc. of Montreal. ''The surprising thing for the week -- in my estimation -- is that we managed quietly, while nobody was listening, and nobody was paying attention...to have done well.'' Although the Toronto Stock Exchange bellwether TSE 300 Composite Index only advanced a double-handful of points -- about 37 to close Friday at 6635.02 -- in the course of last week, it managed to outperform Wall Street's Dow Jones Industrial Average which lost ground. ABC Funds' Irwin Michael said that although there are indeed bright spots in the market, the recent volatility and unpredictable sector rotation have leached the joy out of the springtime for many investors. ''The market could be up in certain sectors but it's not a fun environment for many people,'' said Michael, a portfolio manager at ABC Funds in Toronto. ''The market goes up 200 points one day in New York and then it's down 150, 200, so where's the joy? Where's the enjoyment? What it does is it tests people's resolve, it tests their conviction. And what happens is that people become a little gun-shy.'' Meisels is a little more optimistic. ''I would say that (this) week in Toronto the market could very easily continue what it started here. I would say that at this stage, and I haven't said this for a long time...there is a strong possibility that Toronto is going to start doing better than the Dow,'' he said. Toronto has long been a laggard during Dow rallies and the TSE 300 is still well below its record high. Strategists said Toronto's gains next week could also be underpinned by so-called ''window-dressing'' or the re-jigging of holdings by portfolio managers as they approach the end of the quarter. Canada's trading week was enlivened by frenzied trading activity in some smaller, speculative stocks -- almost any company, it seemed, which could boast a connection to the Internet. ''I would think that this week was marked by a significant return to speculative-type trading, like Bid.Com (International Inc.) (Toronto:BII.TO - news), like Dion Entertainment (Corp.) (Toronto:DIO.TO - news) and like Dejour Mines (Ltd.) (Toronto:DEJ.TO - news),'' said Fred Ketchen, ScotiaMcLeod Inc. senior vice-president and director of equity trading. One of the hottest small Internet plays, with the unlikely name of Dejour Mines, grabbed investor attention when it bought a small stake in Dallas-based Internet courier company, InstantDocuments.com, earlier this month. Dejour closed up C$0.25 on Friday at C$0.60. Online auctioneer Bid.Com shot up as high as C$17.60 on Friday on takeover speculation before settling back to close C$1.05 higher at C$13.90. Chief Executive Paul Godin has twice denied reports that big U.S. competitor eBay Inc. was poised to buy it out. Cyberspace bingo company Dion Entertainment rose C$0.21 to C$2.34. All three tiny companies were among Toronto's most briskly traded issues all week. ''It's all exotic stuff, there's no question of that,'' Ketchen said. ''The problem is that Canadians have not had domestically any of this Internet-type stuff that they can really get their teeth into. Now they've found a few and while I think that they are participating it may well be that Americans are participating even more.'' ($1 = $1.52 Canadian) More Quotes and News: Ameritech Corp (NYSE:AIT - news) BCE Inc (Toronto:BCE.TO - news) Bid.Com International Inc (Toronto:BII.TO - news) Dejour Mines Ltd (Toronto:DEJ.TO - news) Dion Entertainment Corp (Toronto:DIO.TO - news) Related News Categories: Canadian Market News, US Market News Help Copyright © 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?

To: the Chief who wrote (14177)	3/28/1999 8:35:00 PM
From: GoNorth	Read Replies (1) \| Respond to of 37507

Chief, could you point us to an example(s) of where you've seen this shakeout before. I'd like to check back and see what I can learn. >>The big boys from the US are really going to test your convictions over the next 3 weeks. You are going to feel like you are on the end of a yo-yo!!! and , in the end, you will really know what a shakeout feels like!

To: the Chief who wrote (14177)	3/28/1999 9:16:00 PM
From: Syl98	Read Replies (1) \| Respond to of 37507

Great to have you again sharing your views with us. Hope this thread can behave itself so you can stay. <<The big boys from the US are really going to test your convictions over the next 3 weeks.>> That's were we will see if we Canuck's have the ball's it take to be in the big league. That would be a shame to let our friendly neighbours alone in this fairy tale.

To: the Chief who wrote (14177)	3/28/1999 10:05:00 PM
From: zwing_88	Read Replies (1) \| Respond to of 37507

Chief, give us a scenario of a "shakeout" so that we can all understand it. Thanks. Z

To: the Chief who wrote (14177)	3/28/1999 10:25:00 PM
From: F. Evans	Read Replies (1) \| Respond to of 37507

Chief....... I've been involved in other plays where the "shakeout" was performed with cutting conviction....almost mercifully, fortunes were made and lost in minutes and hours of trading...... To all: I agree that the shakeout can be violent and only those with lead stomachs will survive!! That's why it is important to review your reasons for buying this stock...if you are long, hold on and don't get tempted by the violent swings. You must still use your best judgement though and continue to analyize what you see, however, if you loved this stock last week and still love it this week then hold on for the ride....shorts will get squeezed and longs will get baited into selling. We saw a little bit of it this week...just when everything smelt like roses we saw selling hit, methodically hitting all the stops along the way, only to see the stock rebound in an instant. Most of the time a lot of the buyers are the same people whose stops were hit. Why? Who thinks that a stop will truly be hit at $14.00 when an hour ago the stock was trading as high as $17.40? Well, it happened Friday. When you realize you were hit, you quickly buy back because you still really wanted to own the stock. It happened to me the weekend of the Brazil crisis when BII tanked first thing in the morning. As the Chief stated.....we will feel like we are on the end of a yo yo.