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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: ItsAllCyclical who wrote (49732)8/23/1999 4:16:00 PM
From: SliderOnTheBlack  Read Replies (2) of 95453
 
RRC - getting sold off ; I'm calling and I make a stand here - live, or die by RRC.

Yahoo post is BS - period.

I just put limit sell orders in on everything I own - will make a stand here at $4 7/8ths - $5 - then every single chip goes on the table at $4 1/2 ''if seen'' - then I simply wait.

This just became a short term 40% no brainer return - plus the margin leverage = a near double just in returning to its recent high of $7 - which WILL happen before xmas - and probably within days of the Q3 release imho.

Not recommending this type of bet to ANYONE - but, what reasonable upside to the OSX here in the next quarter ? - maybe 15-20% max ? - With margin, I get a near ''double'' potentially in merely playing RRC's return to $7. A 5:1 risk vs. reward ratio - I view RRC's downside as less than the OSX index here... upside to recent (90 day high) is 20:1 ... I'll take this bet. I know I am right - merely the timing is unanswered. If I hit - I jump months ahead in my trading options... literally where I would be in mid year 2000 potentially.

Price moves like this go to the ''core'' of every ''traders'' being - this is a challenge to all the ''work'' I have done on this one... This epitomizes the fundamental necessity of a trader - trusting to his core, the numbers, the research, knowing the company and believing he is 110% correct - and I am; REGARDLESS of what the Street does here.

I can NOT pass up this type of opportunity. Lots of shorting RRC here - someone wants to shakeout the weak, some hedging on the potential failure of the JV agreement with First Energy - due to be finalized by Sept 30th. - This type of short term risk vs. reward play at this stage of the Oilpatch recovery cycle - is too good to pass up !

... Within days, or even hours here - I may just own one stock - RRC.

Regardless of the JV, regardless of the underwater Hedges - This is dramatically undervalued here - and is literally perhaps ''the'' single most undervalued Nat Gas Play in this market cap range.... period.

This is a market ''anomaly'' - recognizing them when they occurr - and buying the hell out of them - is how one makes the Big Cheese... and I want all the Cheese I can get... (VBG).

... well - this is it; all the marbles... sure makes managing the trading portfolio easy.... just one quote. Someone wanted hedged, or out - and I am seizing the window of opportunity.

Sometimes you get the bear - sometimes the bear gets you ; I guess I'm going into the woods - with just one bullet - and I aint planning on missing.

...time will tell.
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