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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SJS who wrote (25329)7/8/1998 5:54:00 PM
From: JZGalt  Read Replies (1) of 95453
 
Steve, Marc, thread;

I think the operative word is dead money. Doesn't mean that the stocks won't have some movement here and there but you might be better off selling the losers, have Uncle Sam eat part of the loss and buy into a similar company. We've talked about this practice before. When this sector moves, they are going to all move in a similar fashion.

I'm thinking of swapping out of NE and into RIG or CDG but haven't made up my mind. Consult someone with a better grasp of the tax laws before trying this in your particular situation.

Basically your outlook on the group should depend quite a bit on your timeframe. Short term who knows where this will eventually lead. Most markets will swing to extremes on both the upside and the downside as you know. Unlike my friend DiamondH, I'm willing to hold these puppies for years until the "value" becomes apparent. This little "blip" up then down since March is going to eventually seem like a minor bump on some of the charts 2 years from now. Take your time, invest in this section slowly and buy quality.

The best thing that isn't in these stocks right now is La Nina and the fact that so far winter has always followed summer.

For disclosure sake I own varying amounts of MDCO, NE, TMAR and FGII and haven't bought or sold a thing in this sector since mid May.
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