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

To: SliderOnTheBlack who wrote (56442)	12/8/1999 1:20:00 PM
From: double-plus-good	Read Replies (3) \| Respond to of 95453

what a bizarre market; what amazing deals in this sector. but here's the strange bit from where i sit. i'd be buying with the cash i recently raised if it weren't for the fact i'm tying up increasing amounts of margin on a short that will not come down. i covered vlnc for a small gain. look at it now; a company with negative equity, a better than 50/50 odds of BK in the next few months, and a pure piece of S+++ trading up daily. this is insane, and i humbly submit that one factor in the insanity is the divergence between the value and the mo-mo. value investors are going in for the short play or they are waiting for a sign to do so. the compelling risk/reward there is almost too tantalizing for any rational thinking person. the value equity is tied down, has defected to the other team or has been decimated. rationality is getting slaughtered and when will it end? this whole setup is a hosue of cards with a super-pressurized elastic mode. the pros know it and they are breaking each wave of shorts who thing its time to call in the chips. the pros are running the show and the daytraders and rookies are becoming instantly wealthy...if they can get out in time and not buy the dip. meanwhile the value folks and real investors are getting led to slaughter. waiting for the apocalypse so i can buy back some oil shares cheap ++ frustrated and hemorraghing to boot