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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Tommaso who wrote (54550)12/5/2005 8:27:13 PM
From: Ed Ajootian  Read Replies (1) of 206322
 
Tommasso, Spotted.Cat, etc. -- add in the clause that you cut off from the sentence and that should take the question marks away.

Austral is drilling a well in PNG during 1Q that could take the stock to $10+ if it proves out the pre-drill geology. I am mostly in the stock for that reason. I was pretty sure the stock price would go down this month and I was very tempted to sell last month, trigger my losses, and then buy back at the end of this month for a lower price.

But the problem with the above strategy is that, if in fact they made the huge discovery in PNG next quarter, if I wanted to sell then, all my gains would then be short term. By just continuing to hold the stock (even though as I said I am negative on it for the short term) I maintain my holding period so that if they hit the big one and the stock goes nutty, most of my gains would be long term.

Maybe I'm missing something here, would appreciate some help from those smarter than I about these things.
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