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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL
CWEI 131.900.0%Apr 25 5:00 PM EST
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To: Buzz Mills who wrote (383)2/11/1997 1:19:00 PM
From: Craig Gantner   of 1017
 
Hi Buzz,
I am going to throw out my synopsis regarding the recent meltdown of CWEI. A superficial look at the concencous earnings estimate (without any deeper digging to see the glaring mistake) and next years estimates (without considering the pinnacle reef expenditures), along some softer oil prices and a coincidental company buyback of stock might have lead to the selloff. The drop might have been exascerbated by sharp eyed shorts. (I wish I would have put 2+2 together last week!) Throw in some stop loss action by people protecing nice gains over the last 12 months and you end up where we are at right now ... I think most of us agree CWEI is extremely undervalued and I have doubled up my position.

I guess my main point is this: Do we really want the earnigs estimates corrected at this point? Wouldn't we be much better to let the bogus estimate stand and get the big pop when the actual CWEI numbers are released. It would seem that a lot more attention could be generated by significantly beating estimates than by the correction of the mistake. In the unlikely event that earnings are somewhat below what we think, the stock's price has already factored that in. Just my thoughts, others please respond ....
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