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Gold/Mining/Energy : Ultra Petroleum (UPL) -- Ignore unavailable to you. Want to Upgrade?

To: Donald Lickman who wrote (4274)	8/20/1999 12:21:00 PM
From: Hickory	Read Replies (3) \| Respond to of 4851

The DONALD, Your "powder is ready!" Sounds like you're getting set to shoot down UP again as soon as it moves up enuf for you to short it again. Really, I don't think your blunderbuss had or will have much effect on the price of UP shares. When it was up around $3.50 I predicted it would decline to $1.50 or less, due to the dearth, at that stage, of either speculative or investment buyers, TOTALLY IRREGARDLESS of your short sales or your knocking it. Actually, I hope that you will bad-mouth UP. Maybe, in some small way, it will help to temper the exaggerated optimism that seems ready to surface again. There has been some good news about UP and stockholders starved for good news seem ready to pounce on anything and pin hopes on it way out of proportion to its real significance. My reading is that UP is an awfully long way from being able to stand alone with strong, sound financials with its own resources sufficient to pursue a large-scale PRODUCTION program that would provide a good return on an INVESTMENT, not a speculation. Now, unless irrational Pollyannas start buying it for other than fundamental reasons, I don't see it moving up to $3 or $4 for a long time. But I think there's a CHANCE that UP may be able to slowly reach a stage where eventually it not only has profitable cash flow but actually generates profits, maybe even significant profits. So, for now, I'm holding onto my shares. If Pollyannas or self-deluded greedies do start pushing the price up to irrational levels, I'll sell my holdings and join you in shorting it.