Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Michael Young who wrote (66383)	5/17/2000 4:24:00 PM
From: Terry D	Read Replies (1) of 95453

Michael - I agree with you on not selling your winners here - and it is not easy. These stocks were so easy to justify in 1998 - now it is tougher - from a buy and hold for more than a month mentality. (Trading is fine - it is just not what I get paid for.) Taking profits, esp big ones, is comforting, affirming, easy to defend and usually wrong. Here is a cliche for you "they ring the bell at the bottom - not at the top." This same conversation/debate can be found on the semiconductor cap-goods threads - there is a thread called "buy when there is blood in the streets" and now the antithesis "sell when they are singing in the streets." Maybe we need a similar discussion here - what is the top, not a temporary setback, going to look like? I certainly expect, as was pointed out earlier, to see rising capex budgets - BUT, I also expect to see the OSX replace the SOX as the flavor of the week. That is not scientific - but it will be my sell trigger. Since I am trying to play my hand, not the big pile of chips in front of me, I am staying. I paid for this seat at the table - I want to see the cards.

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