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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Lucretius who wrote (20065)4/22/1998 6:59:00 PM
From: upanddown  Read Replies (2) of 95453
 
Luc, I tend to agree with you that a major correction in the general market is inevitable but the big question is when. If you think it is imminent then why not go to 100% cash ? Some of these guys, including NE, have had very nice runs and could be hit hard. I sold MDCO today with a 38% gain in 5 weeks and FLC with about half that. I wish I had sold them all. Everybody has a different situation with transaction costs and tax consequences. Mine is tax-deferred and low cost so if I can get out and back in a 1/16th cheaper, I make money. If I thought a major break was right now, I'd liquidate in a minute, but who knows ? Ask the short-sellers how much money they have lost trying to guess that.

Good luck,
John
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