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: Richard D who wrote (57527)	12/29/1999 12:28:00 AM
From: DYW	Read Replies (2) of 95453

I bought several oil-related stocks about two years ago when they were being hyped by DLJ going in t the earning season. All I need say is OUCH. I just put them away, while dealing in other areas. The intersting thing is that both NE and PTEN, which I did not average down on at all, are now back very near my break-even point (after being down as much as 70% and more), while FLC, which I averaged down on quite a bit, is still at more than a 50% loss, even after including the lower buys. Hopefully, when the cash starts actually hitting the bottom-line, FLC's heavy leveraging will quickly make up the slack. I sold TBDI for a tax loss today, since it doesn't seem to have enough liquidity to keep up with the index, and put the money in to FGH at 6 7/8 - mostly as an act of comisseration with SargeK <VBG>. Actually I remember the days when it was BigDog and SOB's screaming favorite in the patch, despite Slider's feeling that there was some sort of conspiracy to hold it down by a mysterious shorter. How times have changed!

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