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

To: mph who wrote (28289)	8/25/1998 12:40:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Buying Opportunies and Playing ''The Bounce'' lesson #101... ...FREE MONEY.....Input Outpout/ IO Down 36% + on the open ! a couple of funds literally puking - textbook capitulation - and I am there, making the largest single day purchase of common stock in my life. If I am wrong on this one - I am one crippled dog who will whimper off - not to be heard from again ! If I am right - I will be profitable YTD in the patch. This is a classic ! This is where the little guy can beat the Pro's/Institutional guys... Here recently, we've had a few major hedge funds/mutual funds who were literally forced to just dump at any price to raise cash for redemptions - a classic capitulation; if you bears are waiting for any better signs than this - HELLO: you aint gettin one ! IO blew it ! - simply blew it.... The CEO OII comes out earlier in the week stating how his company is growing earnings steadilly in the face of the oilpatch selloff, but that he isn't worried because of his niche in deepwater - he put's an end to his stocks bleeding. Then IO comes out with a major press release stating that they will miss estimates.... and they get decimated - just crushed ! funds dump - literally puke... A lesson on how to manage analysts/institutions was missed here; his ''high-tech'' seismic equipment business is doing very well actually; and has a ''shallow bottom'' as seismic will sell off in a downturn but will base quickly because as the price of oil goes lower seismic becomes a pre-requisite to lower the E&P companies cost and increase their margins... which is true. but, he did not handle this well imho; which resulted in a great buying opportunity ! If we have not learned to take advantage of these funds puking (poetic justice ! ) - we will never learn.... These dis-proportionate individual stocks selling off to dramatic 1 day %'s are great trading/buying opportunities - just do it ! Of course; make sure the companies are solid BDI, DRQ, CDIS and even FGII to an extent suffered throught these... and we are NOT in oilpatch free fall any longer - these are little guy/Free Money trades - IMHO ! OI ...link here to Yahoo profile...debt free with outstanding debt/equity valuations - a tremendous buy here - and I did bet the farm... biz.yahoo.com PS - Diamond H did you jump on the SHORT bandwagon on this one ?