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: Think4Yourself who wrote (60309)	2/15/2000 10:41:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

"Q" - re: "the margin dance"... We are still in volatile times; using margin nimbly means you don't hesitate to take profits, or to cuts losses. I have sell limit orders for partial postions on everything I own today - "if" we see a major rally. If my limits are not triggered; I'll have them back in place tomorrow if API's are great - remember ! - the last near 10% up day we had ? - it's was followed by heavy profit taking, shorting and a substantial retrace. There is no reason to think that volatility won't continue here. I'd stay fully invested, but I would be in & out on margin - allways selling major breakouts. I sold substantial positions and that last major one day move - had too on margin; 10% is 20-30% return depending on the degree of leverage you are using. You MUST take those types of profits on one day moves. XTO for example - I sell on a $1 move today - nothing less. There are substantial shorts here; we can move 8-10% intra-day very easily on many names. That is the type of pop I would sell; at least a 6-10% move. You can't miss anything here -there are laggards in E&P's - both majors, integrateds, Gas plays, Oil plays - large, mid & small caps; same in service co's, and FLC DO still look cheaper than the other drillers here. If you sell a mo-mo play; buy a laggard with decent financial condition and strong fundamentals. If you sell your margined holdings; you get to re-margin again if we retrace, or to buy a laggard - can't lose by selling; it gives you ALL the options-it keeps YOU in control; You ACT - you don't react... good luck

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