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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Robert G. Harrell who wrote (27239)8/6/1998 6:29:00 PM
From: Richard D  Read Replies (3) of 95453
 
These guys (talking heads on CNBC) tout oil at its highs last year and now are bearish when it's at long term lows. Try to make money listening to such advice. It is impossible. People like Diamond who early on took 10% losses and got out were smart. They were in a different part of the standard deviation. Much time and price has changed since then. The downside risk has been 90% cut away. The volatility is so high that the stocks move 10% in 2 days, often. If you jump into a high volatility stock, you have to widen your tolerance for downside beyond 10%, or you shouldn't enter the stock at this point.

Richard
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