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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: excardog who wrote (35371)9/28/2004 1:40:23 PM
From: Paul Senior  Read Replies (2) of 206327
 
I don't know. Perhaps people are taking profits on the news and moving money into other opportunities. The Wall Street Journal reports that the sale of its assets will be completed by March. Maybe that's too long for folks to wait. Also, according to the Journal, the asset sales will "allow it (DVN) to focus on more costly and riskier long-term projects." That change in business might be a reason people are exiting today.

I am betting that the price will continue to move up at least until the split is consummated, as seems to happen in many of these instances. Coupled with very good earnings announcements from peer group stocks, it's hard for me see the stock dropping much. OTOH, I don't see very well, and I have been wrong - many, many times.

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I'll take a few more shares of VLO today too.
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