Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Thomas M. who wrote (23820)	6/11/1998 1:39:00 PM
From: SliderOnTheBlack	Read Replies (4) of 95453

How the hell can anyone sell off in the face of this decline ? It is soooo hard psychologically and financially, to sell in the midst of this attrocity in the patch; I can't stomach these losses, even though it may be prudent to sell. I just can not see the bottom being much farther. With the real possibility of OPEC's meeting giving us a rebound - how the hell can someone sell now ? FGII @ $28, EVI sub $40, FLC near $20 or less and on and on... too many of these quality companies are at or even below what even the most bearish had called as bottoms in a worst case scenario; because of this I can not sell - the shorts have overdone this correction and they can't be this stupid or greedy - this close to the OPEC meeting... how can they take the chance? When they cover and if we get some positive response from OPEC; I think we will rebound to ''liveable'' levels untill crude recovers... if not - I'm up shits creek ! I'm holding a little cash, which if I average down my cost basis gives me a ''liveable'' loss in which to ride the storm out with. However if we see another 10 - 15% from these levels - I'm locking up all the sharp objects in the house...

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