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: ItsAllCyclical who wrote (71583)	8/24/2000 11:29:49 AM
From: SliderOnTheBlack	of 95453

JimL; < I would be taking profits in the leaders and rotating into laggards.> ...agreed; that is THE way to play this stage of the Oilpatch cycle - along with keeping some cash & all margin on the sidelines for individual stories, or the eventual pullback, or liftoff from a sideway's trading base; that Q1 2001 (maybe Q4) reporting will bring. I think we've got another 30-40 point non-stop OSX breakout leg coming off of that sectorwide "Break Out" reporting quarter... but, as we've got lots of time & a very big Election untill then; I'm keeping lots of cash & being very patient. I also think that some laggards & small caps will so vastly outperform the OSX, or XNG indices; that waiting for sentiment, or event driven bottoms in individual stories like FGH, or MDR among others; or entering small caps like UFAB, or some of the remaining micro-small cap E&P's that haven't really broken out yet - are THE way to play here. We could be in a win-win scenario for Gold Stocks here - if the Fed is forced to ease off of reduced consumer spending & a non-soft landing; induced from high Energy Costs - the dollar falls & Gold rises. If high Energy stocks do not abate strong consumer spending - inflation rises & Gold rises... The unhedged XAU components at XAU 40-50 will become ultimate "doubles+" imo... just like the Oils did in their dark days of OSX 50 levels imo. Any pullback under XAU 45 and I "leverage" the unhedged (lightly hedged) producers... We shall see ~ PS re: laggards: LSO up 4% on triple volume so far; against the grain on a down day for Oils....select Laggards are gifts here. Smart money is not chasing the leaders here; but rather it is back & filling on small caps & laggards - beat them to the party - they're starting here... the window won't stay open long.

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