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: marc chatman who wrote (36590)	2/3/1999 9:18:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

The most important news event of the day is at 7 p.m. est ! webevents.broadcast.com Ps; marc - it was Goldman downgrading; Merrill had 1 fund dump its energy holdings with a new manager.... however; quite admirably; Merrill came out with this analyst release; AFTER it's 1 fund dumped energy holdings; not before... nothing like a little in-house disagreement; however - this was a value fund dumping energy for obvious dead money & end of the month window drerssing - they can not sit on a 3 month value play, when their competitors are showing 15-20% 1 month returns being tech weighted etc.; and Merrill's Energy Analysts were rated #1 in the Industry for the energy sector, fwiw. curious to see what happens off this API news; who knows - I think a mixed day - + or - 1 1/2 % imho if I had to take a stab at it... the key is as you are doing; set some individual low ball limit orders... Can you imagine the fund mgr buying BR up $2 5/8ths yesterday - if he gets caught in a downdraft today - ouch... too much buying yesterday into an API release for there to be much of a selloff today imho. Have to think they aren't too surprised...

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