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

To: The Perfect Hedge who wrote (7176)	1/8/1998 8:18:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Glenn, 1.Can you believe CDG at under 41? 2.Who is Cliff anyway? D Oh, BTW, EVI appears to be ahead of the pack. 207.95.154.130 Uptrend in place, GD?

To: The Perfect Hedge who wrote (7176)	1/8/1998 8:28:00 PM
From: Thean	Read Replies (4) \| Respond to of 95453

GD, the drillers chart shows a Mount Olypic <gg>. All - read this. I took the liberty to ask Ken Wolff, a trader guru, on how one plays the momentum short. Below is his reply. To: Thean Y. Yeoh (117 ) From: Ken Wolff Hi Thean, how would one momentum trades on the downside? Generally the downside on any stock can only be predicted for a very short period of time. When a stock or a group of stocks starts on a downtrend, it is difficult to tell where value investors (traders) will come into the stock and push it up. I like to look for over-reactions with selling and buy the bottoms so I am there when the value traders come into the stock. I can usually only play these trends for 2 days. I have also found that most stocks are very predictable after making a 20% gain in one day after a long down trend. They tend to resume the downtrend and become good short candidates. ---------- So, questions for the rest of the drilling congregation: 1) If one believes the shorts are shorting the heck out of the drillers, then we know they have itchy fingers and will not stay around shorting for very long. We are talking about 2-3 days in a roll. The exception will be when the overall market slide in a bear phase. Many believe the overall market is deteriorating now. 2) If the selling comes from people who have held on for a long time, then these people are bailing and may not come back. Said it another way, I don't see we can turn this around anytime soon. Tomorrow is going to be worse. Is it too late to short? I guess it's never too late if one's timeframe of holding is 1-3 days. I want to short something here. Can one give a good argument as to why I would want to short something else other than the drillers for 1-3 days play?