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

To: marc chatman who wrote (27273)	8/7/1998 9:46:00 AM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

marc; ...volume reversals ? not disagreeing with you; as this fundamentally is still in the ''oversold'' area and is a great value at today's prices. I just do not see why - ''now'' is the time ? Haven't we had at least 3 of these volume reversals? Off of late June, then in July and again now - they were all ''mini head-fake'' rallys; followed by lower lows... I see this as some quick buys by the institutions and expect the shorts to take us down again - I don't see any fundamental reason for the institutional buyers to be suppporting this sector right now as opposed to not having done so; in the last 2 weeks ? here comes Michael Price - will he or won't he ? c'mon say it - oils are a buy !...damn; David Faber pissed him off about Sunbeam; and Haines didn't get the time to ask.... ohhh my fingers were ''twitching''... Lets see how I do with my ''trader'' hat on today...GLM short, will it go down $1 for a quick hit & run short cover? Will OMNI rebound off its 20% 1 day blowoff - of course it will; allways has - allways will - the stealth sleeper in the patch - OMNI, will it give me a 15% daytrade profit/ and the ability to drop a few more OMNI shares into the long term hold basket and generate some cash to buy more of these 1 day blow offs ? I don't like active trading - but you have to take what the market gives you... it is acting irrationally with these 15% 1 - day dumps by institutions.