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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: pz who wrote (10368)2/2/1998 3:25:00 PM
From: Thean  Read Replies (2) of 95453
 
Paul, your scenario of oil services following the DOW two days later will come true if the DOW can hold its ground in two days, like last week. If not, I don't see how people can suddenly snap up the drillers now. There are just too much negative sentiments. We have been wishing for a turnaround for a solid two months now it never came. It takes long term investment mentality to stay cool. One can break down watching the tape every minute like Glen. Therefore, one should be frustrated by investing in the oil services stocks for short term gain. Honestly, the drillers are not a place to put more money right now. There are better opportunities elsewhere for short term plays. Just look at the short term risk/reward and one would see why it is mostly risk and not much reward.

Ron, be careful about those charts of yours. Don't mortage anything for the drillers despite what you see on the charts. Don't go on margin. The best time to go on margin is after a breakout and confirmation. Don't assume too much risk. Just ask Glen.

I really hope Glen is well. If you read this, Glen, go out for a walk or play piano. You need to get out of this short term picture and place a number on losses. Admit you lose this time. Become a long term investor.
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