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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (51767)9/24/1999 1:43:00 AM
From: upanddown  Read Replies (3) of 95453
 
Very interesting mea culpa, John Q. My reaction is about the same as when you listed your portfolio some time back, ....."You have got to be kidding!". Now that you have said this is your retirement dough, I need to add a few exclamation points.<vbg> That is the main thing missing here. Is this the bulk of your retirement money or did you convert a LARGE traditional IRA to a Roth and most of your retirement money is there and widely diversified? If this is just your gambling money, that is one thing but it sure doesn't sound like it. You are concentrated in a couple of stocks that are illiquid, easily manipulated and may well be quasi-private companies masquerading as public companies whose main purpose is to enrich the insiders. You can easily lose 10% of the share price to the spread on a round turn. These companies are flying so far below Wall Street radar, they are invisible. The daily dollar volume in these stocks is like one second of INTC or MSFT.

Do you really know whether higher energy prices will translate into improved bottom lines for this type of chronically unprofitable company? Even if it does, will Wall Street notice? Is this really the best possible investments for you out of 10,000+ listed companies? I think you may have a case of slider-itis and only interested in companies "guaranteed" to go up 50% in a month. You need some diversification, dude. I'am also recently retired and investing for fun and profit. A couple of sayings I keep stuck to my monitor for perspective.

1. Wall Street doesn't give a rat's ass what you think.
2. I don't know what the market is going to do today, tomorrow, ever.

Best of luck,
John

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