Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: energyplay who wrote (3773)	8/24/2001 1:41:42 PM
From: excardog	Read Replies (2) of 206315

The dog is leaving town all of next week and in honor of this event I am closing all short positions. Call me chicken if you like but there will be no computer access. I will revisit shorts after the holiday weekend as I believe these could be profitable trades over the next two months. On the long side CPE is looking fairly inexpensive at present trading range. They need funds to play ball so to speak with some of the big boys in the gulf and the stock is under pretty significant selling pressure of late. Market cap under 100 million and plenty of drilling prospects just not the $$$$ to drill or so it seems. Takeover seems more likely than not IMO. Speaking of takeovers ICOC has been in a battle the past several months not to be taken out. Certain members of the BOD have offered $3.10 per share in cash only to be rebuffed. Varco tried to by the oil service side but was turned back. Stock has drifted to $1.75 of late. Management must feel a little heat I would imagine. Risk here would be the pulling of the all cash offer at $3.10 but there is always a certain amount of risk in these "crap bird" stocks. Overall the market should be strong next week but as we head into September I expect warnings season and the return of larger players to increase the selling pressures. Hopefully we will be able to weather the storm and make a buck or two. Luck to all Scott

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