Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Gemini who wrote (3258)	11/19/1997 9:41:00 PM
From: Timelord	Read Replies (3) of 95453

Gemini: Its nice to have conspiracy theories, but I think the explanation is much simpler. If you look at the institutional sponsorship of most of the drillers, it was around 60% plus when I last checked a month ago. Most of these drillers do not have that big a float. I knew when I started buying this sector some day our clock would be cleaned, thats why I opted to be nimble instead of holding through the retreats. Thats an awful lot of shares in the hands of individuals who don't give a hoot about the company, watch many impersonal indicators to move large volumes of shares, are under heavy pressure to produce unreasonable performance numbers, and mostly, tend to be sheep and are not very good at what they do (how many funds beat the averages?). You throw into this mix lots of momentum money, huge gains to be protected, and year end tax season, and its no wonder we have this sell off. As every one who is familiar with this sector points out, nothing has changed from three weeks ago, when these were the greatest investments in the world <g>. I plan to be fully invested soon for the next ride up. Alex

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next