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

To: iandiareii who wrote (22674)	5/22/1998 1:19:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Short Interest - comments anyone on plays off the short interest? My first reaction was that the shorts bailed out of their deep driller positions with GLM, NE, RIG, showing the largest decreases in short interest. However DO actually showed an increase in their short interest - any thoughts as to why DO alone showed an increase in the face of very substantial decreases in the other deep drillers (puzzling) ? I can not understand what the shorts were thinking by increasing their short positions in EVI. EVI seems to have weathered the recent storm rather well; this additional build up of short interest to 11.8 days to cover (highest on the OSX list) bodes well for ''pent - up'' demand when things do start to turn. What are they thinking on EVI ? Being real longggg on EVI, I love this. PDS and PDE had over 100% increases in short interest - I was wondering why PDS(with their Canadian & nat gas exposure) was dropping equal to the land drillers - about 15% in the last few weeks.PDS I own & follow - surprises me as to this rise in short interest; I bought as a ''hedge'' because of their Canadian & natural gas exposure, figuring they would be more stable than US land drillers - WRONG. VRC also had a dramatic decrease in short interest, similar to the deep water drillers. Nice endorsement from the street... PKD showed a substantial decrease in short interest - while fellow land driller UTI saw a huge increase (go figure?). Perhaps the shorts were satisfied with pushing PKD to a new 52 week low ?