whats going on, page-26

Anyone else read Diggers and Drillers latest?


A***Action to Take: Place a 25% Stop-Loss on Moly Mines (ASX:MOL) from Today's Closing Price of 87.5 cents

This week Moly Mines finally got some of the financing it was after. It was a good thing for the company's prospects. Read your most recent weekly update for the details.

Bu today, the shares took a big, big fall. The Canadian listing of Moly set it off last night with a 20% loss. A large trading volume went through in Canada. One or two big investors may have just gotten out of the stock.

In yesterday's update we said that we were still bullish on the stock in the long run. Today's trading shows that it's possible Moly may not be around long enough to take advantage. It's a small company in an ugly market.

And the market is truly crazy right now.

But this kind of one-day movement isn't common, even in a bear market. It's enough to warrant securing your capital a little more. Up until now, the selling has been speculation on Moly's finances. But if the large shareholders start dropping out, Moly could be in trouble.

So we're setting a 25% stop-loss from today's price of 87.5 cents. If it goes beyond that we're selling. If it turns around from here we're sticking with it.