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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Bearcatbob who wrote (106612)8/5/2008 10:55:34 PM
From: energyplay  Read Replies (1) of 206197
 
I have a different view. Some of these sellers HAVE TO SELL.

They may see the same long term value (and even short term value) that we do on this thread.

But they have to sell.

Until a lot more of the "Have to sell" crowd is gone, we will keep having nasty sharp drops.

This reminds me of August 2001 a little bit, when Enron was blowing up (as we found out later).

The people selling at these prices have reasons to sell, and I don't think they are nice reasons like "great opportunity in tech stocks" or "rotation to undervalued financial stocks".

Two theories :

1) Speculators who believe we will see $60 oil.(They also believe in the Easter Bunny.)

2) People who need to sell be cause of some really nasty reason - margin call, tax bill, need cash to pay mortgage,
etc.
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