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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (25150)7/5/1998 6:52:00 PM
From: Chas  Read Replies (1) of 95453
 
Slider:

I certainly share your beliefs about the long-term future of oil. One should learn from mistakes, and mine was being reluctant to sell when the service stocks were being punished because of falling crude prices. The two primary reasons: strong fundamentals of the group and desire to avoid capital gains.

I have made $ in this market, but could have increased my returns substantially after taxes if I had gone with the trend, sold on the oil price weakness and waited to reinvest when the stocks were real bargains, as they are now. I am not alone.

Long RIG,VRC,SLB,GLBL,PKD, and August 45 FGII calls.

Good Luck, Chas

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