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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: waverider who wrote (14283)3/10/1998 1:35:00 AM
From: RGinPG  Read Replies (2) of 95453
 
It's probably too late to sell now to wait for lower prices, especially if your talking about the deep water drillers (RIG,FLC,NE,DO etc..) FLC and CDG are coming very close to their previous lows, and I don't think they will get much lower if we really have turned around (which is an assumption on my part). The risk of having to buy back at higher prices is higher than holding at this point. The time to sell (with the intention of buying back) is over. Now is the time to look for a buying opportunity.

<TA> After looking at the charts today, I think we have 2 more down days to go at least, probably 6 more down days with a couple of flat to slightly higher days in between. The daily stochastics trading system has been very good at getting me back in in time, so I plan to use it. However, I've got buy orders in for FLC and CDG since they are already close to their lows.
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