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: Alias Shrugged who wrote (2723)	11/5/1997 11:38:00 AM
From: Thean	Read Replies (3) of 95453

Mike, I typically pick 1-3 drillers at the beginning of each short term cycle and sell them when their TA's go into overbought territory. Never short the drillers and wait till the TA becomes favorably again. This system has worked very well this year with the exception of last month before the crash when the drillers really took off without pause for a long stretch. My holding period in any driller typically is between 1 day to 3 weeks. I tend to pick the ones that got punished the most from pullbacks. The key to this approach is discipline and keep emotion totally out - not an easy task. Good luck. Thean

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