Strictly: Drilling and oil-field services Message Board

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

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To: SliderOnTheBlack who wrote (32560)	12/7/1998 3:15:00 PM
From: SliderOnTheBlack	Read Replies (3) of 95453

7 Million shares for the SLOB !!! Shorts getting crushed ! I think my blood pressure went down 20 points today... NOT a good day to be short the patch. Funny; however that for the 3rd time here; out of the blue with no fundamentals reason (certainly the Venezeulan elections couldn't do this ?) we blast off for no aparent reason; other than once the big Institutional traders start - it seems they all jump in - in unison; both up & down. Manipulation may be too harsh a word; but obviously the ''word'' gets out that either today is a ''BIG" day to either buy or sell.... Once some desk see FIDO or some energy fund put in some big buy orders; the phones start ringing and the Mo-Mo boys play follow the leader. The hell with research or fundamentals, or even material events and timing; just wait for your buddy to call you when FIDO etc. buys or sells heavy... it's just THAT simple. Wait for the phone to ring & follow the bouncing big-blocks ! Hmmm - how can these professional fund managers NOT make big, big money ? This isn't investing or even trading - it's doing nothing other than jumping on the bandwagon when the biggest guy in town steps up to the bar... simply amazing. But; I'll gladly take it - as I allways try to beat the crowd to the party...did on FGI today by a whisker... damn; might buy some lotto tickets on the way home tonight.

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