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

To: SJS who wrote (12470)	2/22/1998 9:18:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 95453

Steve- read 'em and weep. biz.yahoo.com

To: SJS who wrote (12470)	2/22/1998 9:31:00 PM
From: Broken_Clock	Respond to of 95453

Steve, You can surf this site a little. I tried but didn't see much action in oil today(?) simex.com.sg PK See what you can find.

To: SJS who wrote (12470)	2/22/1998 10:19:00 PM
From: John Carpenter	Respond to of 95453

Tomorrow, the efficient market hypothesis will be put to the test. The question is at what point is bad news reflected in the price of a security. Sometime between 9:30-10:30A.M. EST buyers and sellers will agree on a price for our securities. At this time, the players will be aware of all the news and prices should be "fair" in that they reflect the news. What puzzles me is that players don't always act like they believe the efficient market hypothesis. A security can seem to be sold over and over again responding to the same bad news, or conversely responding to the same good news on the upside. So, if the efficient market hypothesis is true, there should be nothing to be gained by selling at the open, for all news is reflected in the price of the security. Since the oil market has absorbed an extraordinary amount of bad news, I trust many savvy players will initiate or add to long positions tomorrow once the market quickly and instantly reflects all news.