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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Razorbak who wrote (54766)11/15/1999 2:58:00 PM
From: SliderOnTheBlack  Read Replies (1) of 95453
 
Trading Strategy: time to take some profits shortly ? rotate to laggards ?

I am; SII - all gone... and a few others trimmed back 50%. Rotating into laggards off of the nice lead run from the drillers & Mo-mo fav's in the service sector; I see the E&P's once again becoming "anomalies" based upon their superior rising present and near term fundamentals in comparison to both their historic valuation multiple and their present valuations right here; when compared to the driller & service stocks.

Again, I would not dump entire positions - I only did in SII as it is a very volatile trader and I see profit taking rampant soon... Again; there are more than a couple of Institutional Analysts who have targeted OSX 85 as a profit taking point - based on the bottomline fundamentals of present. - food for thought.

I think we still could see a year end rally to OSX 100 - but, we will have some profit taking off of this run - simply too far too fast; allthough the prior selloff was irrational - creating the gap; but this still will not prevent profit taking soon imho.

Beat them to the party at the bottoms & be among the first to leave once the party ends as well... rotate profit $ into laggards here imho and then wait for another retrace to buy back in cheaper than you sold... this game is not ending.

MDR - nice volume to be holding strongly to the upside; still need someone to either come out and pound the table, or for the company to be more forthcoming. I shall sit & wait...
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