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: BigBull who wrote (86801)	2/10/2001 10:33:10 AM
From: Timelord	Read Replies (1) of 95453

BigBull - With the risk of pouring fuel on the fire, some interesting articles from our local bird cage liner - BATTLING THE SLUMP - High-tech job growth has slowed, not stopped sfgate.com Deathwatch website mentioned in the article. Layoff's, what layoffs? Note the list extends for 40 pages. search.thestandard.com While I don't buy that doom is imminent, the economic situation is uncertain enough that I've taken and cleaned all my portfolios (over the course of the last year) of garbage, thank you trading gains for that luxury <g>, and am now 65% cash. When I close my last two losing driller positions for gains (hopefully) - NE & GLBL - I will be nicely positioned for continued S/T trading. My only other deference to E & P land is LOILY and SEV, which I will continue to hold long term. I made the mistake of ignoring economics in '98 and paid a heavy price for it in my quality of life and my net worth - it won't happen again. This latest run in the OSX provided an opportunity to unwind my heavily margined OSX positions with nice gains to boot, and for that I am eternally grateful. Had a very gentle reminder of the "dark days" during our little plunge below 100 in December. Ahem. Remember to keep an eye on your pocketbooks and not on your egos, those losses are hell to make back. Alex

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