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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tulvio Durand who wrote (7860)1/13/1998 2:59:00 PM
From: waverider  Read Replies (3) of 95453
 
Bottom? How about this? I've been watching CDG for a long time...especially since I've owned the thing since January and have been buying all the way down since October...showing a significant loss at this point (I hate it when I hear those market commentators saying how everyone should have made good money last year).

Anyway, I've been waiting for a washout volume on Cliff's like we had back last winter when we went went from $40 to $20 (post split). At the very bottom, we had a huge increase in volume, washing out all the week hands. The stock never looked by until this recent nightmare. I was thinking that Friday was going to show the same thing, but not such luck...BUT WAIT! Check out the weekly graph for Cliff's. Last week was the greatest weekly volume ever. The washout may very well have happened, but in a slower manner...and more painful since it took so long.

But I'll join the chorus and say that last week represented the bottom in Cliff's and perhaps the sector. Yesterday was a hangover. I may be grasping at straws, but it is as good as any other prediction (ala Mike).

It has been the fundamentals that have kept me here (see my post on CDG over the weekend). Everyone here have kept me sane.

Good Luck all
Diamond H
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