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: jim_p who wrote (67042)	5/25/2000 2:03:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

jimp - how can people "load up" here at 115ish, when they were max leveraged at 130 ? I agree it is "now" time to begin buying - but, I don't think many here can - since they were allready leveraged so strongly from their comments of late - on how could anyone possibly be taking profits of late ? Can't buy dips when you stay leveraged at the tops and don't take profits ? $100K just traditionally leveraged 2:1 at .50% maintenace levels and holding $200K in stock that was held to OSX 130 is now worth just $170K and that original $100K in capital/cash - is now just worth $70K; a $30,000 loss on this pullback . And I would venture to say that the average player here certainly does use 2:1 margin keep .50 maintenance; many, many, many from prior comments, PM's etc go to the edge of .30 and "surf" at .40% maintenace; anyone who was carrying that leverage here of late - hoping to "goose" out those last few points, or expecting another major leg off of this return to $30 crude & with $4 gas - lost some significant money. Gotta run - couple of tech trades are running wild - PKTR & RVSN - go baby go....time to put some profits in the drawer - gotta be in a position to load the boat on further weakness in the patch. Ciao~

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