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

To: VLAD who wrote (38164)	2/24/1999 3:32:00 PM
From: VLAD	Read Replies (1) \| Respond to of 95453

FLC down to 5 3/16.......the bleeding continues.

To: VLAD who wrote (38164)	2/24/1999 4:25:00 PM
From: Think4Yourself	Respond to of 95453

Many oil stocks will be near free soon. Although they are at bargain basement prices they will go lower for one simple reason. The ANALysts are tripping over their lips forecasting doom and gloom, explaining everything away as "noise" I just heard one idiot on CNBC say we are in a sideways trading range below 15 and change. That's like saying the DJIA is in a trading range below 12,000. The average trader invests on momentum and trends - they have no concept of what a company is worth. Result: long holders panic as small short (trend) volumes drive down prices. The process feeds on itself as investors with cash wait on the sidelines for the carnage to end. I am in this sector for the simple reason that I believe most traders are going to be badly burned later this year BECAUSE they have no concept of what companies are worth. If you invest in trends you are long the big market cap companies and short the commodity related companies. The competant fund managers are going to take big profits this year from the overpriced stocks ahead of Y2K fears. This could trigger a crash as the self proclaimed "investors" panic. Margin calls will force short covering, driving up oil stocks. Of course margin calls could also force long positions to be cleared. just my $.01 worth (deflation)