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 (4328)	12/3/1997 11:56:00 AM
From: Brad Hill	Read Replies (2) of 95453

Getting in the night before is the key, of course, to making money on these gaps. I've played that game with mixed results, and was too hesitant (understandably in this sector) yesterday to take a position. I will probably be hesitant today because of the gap and nervous-making candles... but again, stepping in gradually makes sense. Half the night before for a possible gap, and half the next morning to ride the follow-through. I'm also considering going farther out in time with calls, and not worrying about these nervous bottom-feeling days. Your point about fund distributions is well-taken, and has been on my mind. However, I don't let transient considerations (imminent distributions, commissions, loads, taxes) stop me from taking timely and potentially very profitable positions. I don't want to wait until January to begin positioning for the driller recovery--the recovery might happen very quickly. -- Brad

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