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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Bazmataz who wrote (12573)2/23/1998 1:04:00 PM
From: SJS  Read Replies (1) of 95453
 
Barry,

I said that and it was relative to other stocks in the sector. I hate being down at all, but I'd rather be down 3% than 6%.

Will investing here be throwing good money after bad? I don't think so because in 1 year, after having built a better average price, I can get out if I want to with just opportunity loss (by not having the oil money in hotter segments).

If I don't average down, then I have to wait 2.5 years to get even.

If I sell now, I take large losses.

Maybe I am trying to learn patience. I buy puts. I write calls, lower my basis and grind out a better average price. We're closer to the bottom than the top, and if there's 15% more downside, I think I can take that pain. If there's 40% more downside, then we all have problems. big BIG BIG problems.

Just my take.
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