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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (51150)9/15/1999 9:18:00 AM
From: marc chatman  Read Replies (2) of 95453
 
<<You have major forces behind the money flows in the OSX here talking about locking in gains, not putting new money into the OSX etc.>>

I have no idea where the OSX is heading, and it has been looking a bit overbought (at least the index and some issues). But consider the comments by these fund managers to the effect that they intend to start selling to lock in some profits.

Why would these fund managers publicize that they are going to sell? If we assume they are being honest, aren't their comments going to put pressure on prices so that they get less when they sell their shares? If that is the case, aren't these some of the dumbest people around. More importantly, do I want to be following the moves of some of the dumbest people around?

Of course, there is always the chance that they are not being honest. I'm not in a position to determine that, so, for all intents and purposes, I ignore the "noise."
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