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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (25505)	9/9/2003 12:27:59 PM
From: CpsOmis	Read Replies (1) \| Respond to of 206321

Play: FWIW, at the conference call, there was a question about "mothballing" plants that were running at break-even. The question was answered quickly, then downplayed. However, they stated that an announcement to that effect was upcoming "in the coming weeks". I heard Warren Buffet once say that "If you are at a poker game and you don't know who the sucker is, it's you!" Along those lines, the news announcement regarding the Cal. settlement, the upgrade by S&P with a $10 price target etc. has created a 33% runup since that conference call. Note, there was HUGE volume on that day...nearing 30 million shares. That is institutional money looking at the near term with trepidation imho, and leaves this stock a near term trader, l.t. buy/hold. I also think the shorts that may have been placed in anticipation of the bad earnings may have run their course and covered...or perhaps the majority. I usually think along the lines of "conspiracy". I'm really not paranoid...I just haven't let them catch me yet! ;0) Anyway, I think that there will be an 'attempt' to take the wind out of the sails here and knock it down 10 to 15% to take a breather. Therefore, I reduced my position by 2/3, selling my trading shares and returning back to my core holding at 5.54 today. As I type, it is up a few cents from there, but I think a retrace to 5.25 or so is invevitable, and touching just below 5 again likely, and have entered some GTC orders to trade again. If I am mistaken, I can take comfort in the fact that I have reduced my exposure significantly. My .02 Cosmo