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To: CpsOmis who wrote (82385)	12/21/2000 5:21:26 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

High fliers? You think DNR, CHK, and ROYL are high fliers? You ain't seen nothing yet! Don't forget that these guys are selling their production at anywhere from $8 to $50/mcf on the spot market. I wanted to "reach out and touch someone" (hard) when I read that comment by brmahood about "slido". The guy has a very feeble memory ;o) RRC definitely has long life reserves BUT they only have $.03/share cash for exploration and they have a MOUNTAIN of debt that must be serviced. Companies like XTO, which were highly leveraged last winter, have dramatically strengthened their balance sheets, and their stock prices are reflecting the improvements. RRC's appears to have actually become worse in this period of record high commodity prices. My point was simple: redeploy out of RRC into unhedged producers for the next 3-12 months, and then re-enter RRC. The stock isn't going anywhere with those hedges and that debt. I stick by my logic 100% as no one on the thread said anything to convince me I had overlooked something. Those long life reserves will still be there next winter. Unfortunately, so will the debt and hedges. Different strokes for different folks. That's what makes a market.

To: CpsOmis who wrote (82385)	12/21/2000 7:03:35 PM
From: isopatch	Read Replies (1) \| Respond to of 95453

Ditto, Cosmo: "...spooks me to go back, and look at past trades." "So often they are at 50% of what I sold them at." The caution that such retrospectives can generate in successful investors and traders has an impact on the market that TA analysts often fail to consider. Sure, we often hear the horror stories about someone who's lost a huge amount of capital in a couple of dot.coms and as a result he's going on the wagon. The classic, "I'll never touch the market again", is something that becomes more openly expressed as a Bear Market drags on. And we'll likely hear a lot of the "I'll never..." type of comments by Spring as less experienced players begin to see, what a real Bear Market can do. But the kind of narrow escapes from losses many of us have had in recent months also acts as a wet blanket on the willingness to trade. Over a period of months, volume begins to dry up in many small and mid sized stocks that had offered excellent trading liquidity during the past year or more. Isopatch