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Gold/Mining/Energy : Enron - Natural Gas Industry
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To: Robert Graham who wrote (1118)12/5/2001 1:07:09 PM
From: buffaloha  Read Replies (1) of 1433
 
I agree...

<p>
That is why I just unloaded the majority for a nice gain. I agree that this is no better than gambling Vegas. So, my stake was what i could afford to lose. I would never recommend this to serious investors. It is nothing but an educated gamble based on some limited knowledge and a lot of reading between the lines. This thing just didn't smell right. The orchestration was too pat. The funds rumored to have short hedges and the tactics of DYN (a competitor for God's sake) just rammed this thing into the dirt way too fast. The real key to this whole scenario, though, is not only the immense size of ENE but the fact that the banks had a vested interest in seeing this continue. My gambling strategy is always to see what the banks are doing because they are usually the winners in the collapses by taking assets or getting secured positions. These banks had to try to rescue ENE to even have a chance at saving their position. It moved way too fast down for any self respecting bank to allow. Those are just my assumptions. Since no one who isn't an insider has any more real live sagely foresight into any stock, that's where I laid the chips. This one turned out right. Lots of luck involved. But that is the reward. I watched ECNC go to 5,000 percent and several hundred thousand dollars in my own portfolio once on a gamble. Got some out but also lost a lot too.

Right now, I'm cashing completely out of the market. Sold almost everything today. Will wait for the next dip or disaster. Good luck. It's been fun.
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