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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Arizona Pete who wrote (5691)12/19/1997 12:04:00 PM
From: Iceberg  Read Replies (2) of 95453
 
>I have no idea when the downtrend will end! There are a lot of people who will tell you when and why, however I am skeptical of fortune tellers, in spite of the tools they use (TA, Fundamentals etc.).

>Regarding the market, I can only look at it in the present

Arizona Pete,

It seems to me that one has to somehow project into the future - either with TA, Fundamentals, or both, - - or something - - before entering a market position, and especially while maintaining and exiting a market position. Do you not look ahead, and try to figure out what the probable future is? I don't see how you can just look at the present and totally discount future projections.

Just what would be your basis for going long or short with the drillers, and what would be your basis for exiting an existing market position?

Thanks,

Ice

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