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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Dennis who wrote (2852)11/11/1997 11:25:00 AM
From: mph  Read Replies (2) of 95453
 
Dennis:

We've had the so-called Asian Flu; there's unrest in the Middle East (again); it's the season where the funds and mm's do their year-end window dressing; and the mini-crash/correction gave a lot of people an excuse to take profits. On this thread, there are several voices advocating a cash position for awhile...Under the overall circumstances, it seems to me that the drillers have maintained their position fairly well. As much as I would like to see daily increases of a point or more on each of my positions, that is simply not realistic.

I can see that I probably should have been doing more trading in these stocks, but there are tax implications which would probably have undercut some of the benefits of having done so. For the time being, I am holding all of my positions and will probably add to them when the time seems right.

So, to answer your question, I'd say the drillers are in a "holding pattern" for the next several weeks; however, should start to see some upward movement again by the end of the year. I'd be interested in the comments of others on this. I am not a TA type nor do I have anywhere near the level of investor/trading experience as others on this thread. mph
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