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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Lucretius who wrote (14387)3/10/1998 10:03:00 PM
From: marc chatman  Read Replies (1) of 95453
 
LT, regarding the shaking out of weak hands, my guess is we are also seeing quite a few funds being shaken out, or shaken down. I noticed a stat today that the DJIA is up over 9% year-to-date, but the average fund manager is up something like 6%. The funds running behind the average (which seems to be most of them) aren't likely to be patient in waiting for this sector to perform. Sure, at some point within six months or a year we are likely to see much higher stock prices, but these guys can't take the chance of reporting lousy returns to their investors. I suppose that when the funds start to come in seriously, they will all come in at the same time.
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