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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)
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To: VIP Condo who wrote (1315)1/1/1998 1:23:00 PM
From: CLK  Read Replies (3) of 3335
 
Happy New Year and I think it will be. One thing I observed is that the volume needed to move SIR up is much less than for ERB lately and I suspect this reflects the relative tightness of the stocks. I believe there is still a gap between the two that needs to be filled and further believe that the strong support for SIR at .44 which lasted for weeks was buying by insiders..it just was a solid bid for anything that came in and that usually means someone with cash and confidence is there. Of course it makes sense that that would be the case at this junction. This is the time to pay real attention to this play. The prior run was not as important being based on people speculating on their getting a partner but this run being based on the speculation that the drilling results will be big news. The latter has much more potential to be fundamentally important since a partner could have done the drilling and missed just as well whereas if they hit the partner coming in is a foregone conclusion. It is really weird how the markets place values in the wrong places. The market should be higher now than before and my guess is that even a hint that the drilling looks good will put the prior highs behind us. Remember also that if they do want to do a deal with a major partner instead of go it alone then the probability that they would merge the two companies would increase since it is easier to do a jv with one company than with two. So that would mean the gap betwen SIR and ERB would disappear which in itself could be a double from here for SIR. Altogether the situation looks rather hopefull at this junction. I am wondering how soon we will see some new names show up on the thread as happened last run. Should be fairly soon would be my guess. Any lurkers out there?...say hello.
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