Taylor dumps Golden Phoenix

2008-12-01 20:48 ET - In the News

Jay Taylor in the Nov. 18, 2008, edition of Gold, Energy & Tech Stocks tells readers to sell their Golden Phoenix Minerals Inc., recently 1.38 cents (all figures are in U.S. dollars).

Mr. Taylor said buy four times between July, 1999, and September, 2006, at prices ranging from 13 cents to 39 cents. He said sell half on April 16, 2007, at 38.7 cents. Assuming a $1,000 investment for each of the four buys, selling half of the total $4,000 investment at 38.7 cents would have yielded a profit of $1,727. Mr. Taylor said buy again on Oct. 16, 2007, at 33 cents and on Aug. 15, 2008, at 12 cents. Assuming a $1,000 investment for the two buys, and taking into account the remaining $2,000 investment after the April 16, 2007, sale, selling the total $4,000 investment at 1.38 cents would yield a loss of $3,739.

Mr. Taylor has nothing to say about the company in the newsletter. He simply slips the sell into the back of the newsletter under "closed positions."