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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (56573)12/9/1999 12:54:00 PM
From: upanddown  Read Replies (1) of 95453
 
Wow, the volatility in this sector is just incredible. OS can make the internuts look like steady eddies. We have had the Dow equivalent of a 300-500 pt every day this week. This sector is totally in the hands of traders and the mo-mo crowd. We need institutional support to move ahead here, especially from the value camp and this type of insane volatility can really turn off value investors. It certainly turns me off.
The ridiculous thing is that this sector moves in long, slow cycles but is being traded as if the businesses are radically changing every day. What makes these moves even harder to understand is that the underlying commodities have been relatively stable this week.

John
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