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: HH who wrote (10377)	2/2/1998 6:26:00 PM
From: Lucretius	Read Replies (2) of 95453

I realize that you aren't anti-driller, and it is your privilege to be so even if you are. It is just frustrating to me to read the banter back and forth on this thread every day of those that claim to be pro-L-T funid's continually sellout for a loss or take their 1 point profit and pat themselves on the back. Nobody seems to understand that these stocks will move back up slowly. I don't understand what people are looking for here. Do they really expect all of these stocks to soar back to their old highs and proceed onward. It doesn't work that way. Nor do these stocks wear signs that say "Buy now, there's only upside from here." Only those w/ vision and a more than 1-month term strategy will prevail (just as it was for those who bought in last year.) When I stepped up and added more NE last year at 16, there was no consensus that the drillers were going higher. In fact, most analysts were saying "nah, don't want those" even as they approached their old highs. Well, look who doubled their money even after the recent correction. The same goes recently when I added at 23 and 24. You've got to take advantage of the fear that is present in this sector. Ever since the bust of the early 80's, investors fear a donwnturn in oils like it is the inevitable. THe conditions that caused the bust in the 80's aren't even close to being present now. If you are aware of this fact, you take advantage of others' lack of vision in this sector. The uptrend that is occuring in the drillers is a multiyear cycle. After basing for a few months, the quick buck artists and the illinformed willbe gone from this sector. Then, and only then will these stocks resume their uptrend. Quietly at first and then explosively, and the cycle will start all over gain as MoMo rushes in. alas, I fear I am beating a dead horse. So, I'm headed home. Good luck! -Lucretius

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