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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (49964)	8/27/1999 12:14:00 PM
From: SliderOnTheBlack	Respond to of 95453

RRC short interest; - this is a gift squeeze play by the way... The shorts are mainly hedges on the JV agreement and also as a hedge on their submarket price Nat Gas collars which expire in October. Call RRC and talk to IR - they are very confident of the JV closing 'on schedule' - you can also call Deutsche Analyst David Wheeler @ 212 471-3179. We also saw a run below $5 which caused some margin calls I am sure... The volatility to the short covering upside is substantial here. The stock moved 14% in one day off the JV news- then the short selling/hedging immediately followed. It ran from below $5 to $7 in days. Short interest is available from a variety of sources - Barrons and various net sources; but I haven't seen a site offerring a month to month, or weekly 'log' type of schedule. Market guide, Vickers, some online brokers research dept etc. should be able to answer your question. My #'s show the interest accelerating on the Oilpatch rally here in May-June - this appears to be a smart hedge - vs. their Nat Gas collars expiring in October; then the short interest increased into the JV announcement - also a savy hedge. The nice volume reversal of the last 2 days is significant. We are right at the vortex of a turn here... a 25% chipshot to $5 3/4 ish looks imminent from what I see.