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Gold/Mining/Energy : MHRC on the OTC market -- Ignore unavailable to you. Want to Upgrade?

To: Charger who wrote (24)	8/18/1998 8:34:00 PM
From: Cavalry	Read Replies (1) \| Respond to of 188

the plot thickens, from yahoo boards Message Boards Help - Edit Public Profile - Personalize - SignÿOut Top:Business and Finance:Stocks:Energy:Oil and Gas Operations:MHR (Magnum Hunter Resources) <- Previous Next -> Message 557 of 570 Reply The Wall of Worry......... p20116 Aug 15 1998 9:21AM EDT Previously I mentioned that I thought his breakeven was Approximately $5 - 5 1/4. The short got off 350,000 shares at 3 13/16, almost immediatley the stock made it to $4 without any resistance. At that level the short sent up a wall of stock at the figure to cap it from going higher. When that stock got popped in one shot of 152,000 shares, he backed off as it bouyed in four trades to the 4 1/2 level. This stock has been held in by the perception that there is massive amount of overhead supply, not true at all. granted there have been margin calls and weak sisters that have been natural sellers, but nowhere near what he would need to cover his short at a comfortable level. When longs make a position with leverage and someone tries to give the impression of underlying strength, they put up huge bids, shorts put up huge offers to send it the other direction. What has convinced me that he is so wrong is three fold. 1) check out the Institutional holdings and how they haven't decreased. The largest holder recently published a newsletterthat touted how well they did in AOL stock and how they missed with Schlumberger and actually sold it across their entire fund family. Think about this a minute, they see more potential in MHR than they do SLB? If the short weren't there, or tried to cover that massive amount during an upturn in the sector, he'd push this stock up faster than a cork from the ocean bottom. This is more than wishin', it has teeth. At $5 there will no doubt be a showdown, and the big boys on both sides of the trade will have a call to arms, watch for it. ÿ very interesting, imo Cav