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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (52623)10/8/1999 10:20:00 AM
From: marc chatman  Read Replies (1) of 95453
 
Just think that people who bought near the top have probably lost 1/3 or more of their investment in just 4 weeks. Those of us who were watching the sector last summer know very well that the momentum driven sentiment in this sector is like an ocean liner -- it takes considerable time to turn it around once it gets going full tilt.

And, if and when momentum does turn, there will be a huge amount of overhead resistance. For those buying calls, you may want to consider giving yourselves plenty of time. Remember that it took the OSX nearly 5 months to gain what it just lost back in under a month.
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