Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: energyplay who wrote (81928)	12/17/2000 2:01:57 AM
From: Don England	Respond to of 95453

can't locate the figures but i believe that the latest re-balance in the nas. 100 will take out many stocks that have sunk appreciably and lost mkt. cap, thus lowering their p/e's, and replace them with others still having muscular mkt. caps and quite high p/e's, thus adding another layer of instability to that index to make it even more shortable. don

To: energyplay who wrote (81928)	12/17/2000 11:44:30 AM
From: Tommaso	Read Replies (1) \| Respond to of 95453

Considering your argument and also the response to it, I think you are probably correct. It just seemed to me that the Dow had not really been hit with any serious selling yet. I hadn't thought about the change of stocks in the QQQ. I hade been maintaining a short position on XLK, the technology index, for a long time and found it somewhat harrowing. I did in fact put in an order to short QQQ about ten days ago, i think, but missed the closing bell by 30 seconds. But if QQQ take another bounce up, I think I will short it. I think that markets in general are so volatile and so vulnerable to further collapse that I may even do some in and out trading shorting the various indexes. I have never approved of this kind of gambling on the market, but with a $30 round trip possible with a good broker, I think all you have to do is wait for the market to go down some, cover part of the shorts, and wait for it to gyrate up again. I think we may be in a unique environment for the next year. Mainly, however, I am maintaining steady long positions in every sort of energy play except futures, which are too wild for me. I think someone with a great deal of money might safely buy natural gas futures contracts for 2003 and sell them at a huge profit before new sources of gas can come on line. But it is not for me.