Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dwight E. Karlsen who wrote (27400)	8/9/1998 2:37:00 AM
From: Fredman	Respond to of 95453

stock market: not what it used to be. IMO what we are seeing is 'Auctioning'. For whatever reason, almost all of the drillers bit it last week (new 52-week lows). I personally thought MDCO was the best of all the sub-$25.00/shr stocks, based on the fact they have no debt, so i don't see a reason why it sank like all the others. But it's oil day rates that control it, that and some coin tosses and dart throwing. But all things considered, last week was one HELLUVA buying opportunity for all of us, and I did. That's why it came back on friday, most of us recognize these are GREAT companies that will come back. I don't think we will ever know EXACTLY what drove them all down the past few weeks, we can just make a lot of educated guesses. and yes, there is an argument for every reason why it goes down or up.