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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (56203)12/6/1999 4:42:00 PM
From: Braddock Bull  Read Replies (2) of 95453
 
Capitulation?

I just can't believe we're even to the point of talking about capitulation the way we did late last winter. But here we are with almost $27 oil and we turn in another big down day in the OSX! It's absolutely mind boggling! At this point I'm capitulating mentally (not selling though) and just walking away from the whole thing. I do agree that many have capitulated and sold out of frustration today and last week. I mean can you blame them... another 15% OSX correction in one week in the face of an out of control general market and booming oil prices? People would rather buy Yahoo at a PE of 1000+ than a dirty little cyclical driller. There is absolutely zero confidence in these stocks, zero. Folks, I hate to say it, but I think we're going lower still. There's simply a disconnect here with reality and it's just going to have to work it's way out. It's just astonishing how low these stocks will go.

Brad
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