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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Broken_Clock who wrote (12639)2/23/1998 6:43:00 PM
From: Thean  Read Replies (3) of 95453
 
<Papaya - I'm not addressing you> With the drillers inching closer to their previous lows, even the long term bulls are becoming very edgy. Why they pay so much attention to the day-to-day prices of their
stocks I don't know. But I suspect they lack sincerity and speak on both sides of their mouths. If the current price weakness is inconsequential to their long term investment, why do they just keep quiet and buy more?

This market is made up of all sort of players, at least I think this thread has come to accept. But I find tolerance level has decreased lately. If your stocks drop and you find it more difficult to sleep at night, don't flame those who are not in your camp. Just common courtesy. If 70% of all posts are just shouting matches, we're all not better off.

Let me clarify a few things.

1) Crude and OSX is still connected. Until there is
three consecutive days of a decoupling, they are
connected. Don't guess - pull up the chart and look for
yourself.

2) I'm saying there is a cap to the upside of the
drillers until crude can stabilize above $18. Until then
- dead money.

3) I'm not saying the sky is falling. But the downside risk has increased because crude prices have become lower. Why buy and hold a non-performing stock? Why not come in when the trend is up? If one is willing to make no gain for sometimes, maybe six months,
then go ahead and buy now. My alternative is simple, go
elsewhere where the trend is clearer, DELL, INTC etc., and
come back and invest in this sector with a vengience when
its trend is finally up. Why is this so incredible - Paul L?

4) It's a common mistake for people to assume those who sold out will lose when the stock goes up. Disciplined people WILL come back and participate all the way up. They may make 10-20% less money but that can be made up by investing elsewhere in the meantime. The risk level is currently high in this sector - reward level is capped. This is what I mean by risk-reward consideration.
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