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: articwarrior who wrote (52895)	10/14/1999 10:36:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

Ohhhhh Artic..... re: "bailing out of margin" - ahhh hemmmm; In case you didn't notice... (VBG). Not a bad day to bail... GLBL was my largest holding & my largest profit taker...hit serious resistance at $8, wasn't a bad day to sell GLBL, or ESV... or virtually anything for that matter - thank you... Not a bad day to buy RDC either imo. GaryB - had to get "some" on 10% down day for RDC vs. a nice up day for the OSX. RDC's equity offer will be sopped up easily, paying bank debt is a good move. That was an over reaction just like the initial one to GLBL... Earnings season just has to many potential land mines here for this to be smooth sailing; even off of those fantastic API #'s and crude's rebound. Here's another "warning" of things to come from PGO - (maybe a catch in the $14's coming ?): biz.yahoo.com This is a time to be an individual stock trader/picker. ESV is one of my fav's - nearing $20 - outta here... at $15/16 - buying on margin... I still love GLBL - it just popped too fast; and there is no reason for the institutions to buy untill after earnings season. The way I see it - the Institutions bought the downdraft bottom here (as I did) and there is simply no reason to buy, or especially to chase anything here into earnings season. We've simply run out of buyers here... no real heavy sellers; but rather a lack of buyers... value is still here; but it is no longer that compelling given earnings. We drift lower. I am sitting for the big blowoffs from earnings reactions in individual stocks - I'll be a large buyer here on those moves. But, averaging in... in 1,2, 3 buys and not chasing 'tic's either. Like RDC - in $14 15/16ths - will sit for a full position at $13 7/8ths; & will margin in the $12's if seen. I allready see PGO getting set up for a blow up; love it... patience is the ticket here.. Thanks again GaryB for the caution's... Still a great time to "re-buy" the small cap nat gas plays here.... they are back to pre-rally prices and will not be posting downside surprises, or bad news... quite the opposite. Actually the balanced plays of crude:gas; are my fav's - UPR OEI PXD... We'll see what earnings brings. I don't plan on selling any of my core holds from the bottom of the blow off here; but will be buying very selectively... and we'll get some nice opportunities before earnings reporting is over. Bond yields are now enticing compared to ytd returns for many indices... DOW correction of 15-20% from here is far from unrealistic... stay nimble; the Oilpatch initially goes down right along witht he entire market in a total blow off... remember last year ? PS - Artic; still on full margin (VBG) ? Margin use is just like poker: ... you gotta know when to hold, know when to fold; when to walk away and when to run ...

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