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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Cragganmore who wrote (28544)8/28/1998 3:08:00 PM
From: Starlight  Read Replies (1) of 95453
 
I've been thinking about why this sector keeps getting hit so hard, and aside from the OBVIOUS reasons (price of oil, etc.), I'm wondering if the fact that many fund managers, etc., are on vacation this month might have something to do with it. Instead of making any BUY decisions while they're away, they're just calling in SELLS to try to preserve capital. It will be interesting to see what happens after Labor Day. People will be returning from vacation and there will be a lot of "committee meetings". Perhaps then we'll see some move into the OS stocks as a value play.

(I'm just trying to be optimistic -- otherwise, it looks like we're going to have to move over the the Stocks: Five Dollars and Under board.)<g>

Betty
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