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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: rocklobster who wrote (18508)4/8/1998 8:15:00 PM
From: waverider  Read Replies (4) of 95453
 
Richard, you're so damn tactful I gotta hand it to ya.

You have a point about trading in this sector...especially since you have used the strategy to recover some of your losses with FGII. At 31 you seem wiser than your age. Keep pluggin' away. Now the next question you want to ask yourself is why you picked stocks that have been going up, then down for a loss, up for a gain, down for a loss, etc. Recheck you selection process.

About long term holding. Think 3-5 years ahead and try to select some companies that have a franchise in their niche. Wait for a correction and pick 'em up. I think Intel would be a good pick for that, as well as Qualcomm now. Our drilling companies may be running into trouble 3-5 years out, so they are not the classic growth picks...cyclical is the word. Do what feel comfortable, but you might want to keep a significant portion of your portfolio in long term, growth type stocks and maybe a smaller portion for trading. Calls have a place, but I understand your aversion to them. As for myself, I use 'em for my gambling urge. For example I bought a bunch of May 30's on FGII last week...but then again I bought a bunch of Intel calls right before the recent downdraft. That's trading for ya.

Good Luck Nice Guy
And OF course you're coming to the party!
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