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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Todd R. Levine who wrote (5659)5/20/1997 2:57:00 AM
From: Edward M. Zettlemoyer   of 9164
 
Todd, some food for thought, I believe what is going on with Arakis now is that a considerable number of short term investors (speculators) are trading the stock, selling more frequently, accounting for the high volume every time the stock tries to advance. After a short term gain they sell and this neutralizes any demand for the stock that would put upward pressure on the price. After a few sell-offs other investors get frustrated and sell adding to the over supply and creating a price drop. The short term players pick it back up at the bottom for another cycle. This repeated cycle should be broken when the long term outlook of the fundamentals start to look more attractive and obvious. At that time the stock will trade ownership from the speculators to the long tern investors and the price should move to it's fair market value.

Just my 2 cents, for what it's worth. Ed
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