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: SJS who wrote (4321)	12/3/1997 11:17:00 AM
From: Thean	Read Replies (2) of 95453

We had the rally we all hope for. Remember, the real result will hinge on the close today. If the market closes now, we are in very good shape. If things retreat from here without further buying, then I would stay neutral again. Just think of the optimistic scenario for a minute - if we indeed close 4-5% higher today, the immediate future will be very good indeed and we should have a gap up tomorrow according to past history because this would be a technical confirmation of a rebound. So, if things look good 15 minutes before close today, I would seriously think about taking up positions before the boat leaves. The risk/reward favors rewards at that point. I'm already fully invested so I'm beginning to smile. BUT, just be realistic, if things turn sour by afternoon, I'd take some short term profit and count it as good short term trade. Be realistic and not get carried away.

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