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: Tulvio Durand who wrote (27553)	8/12/1998 3:05:00 AM
From: SliderOnTheBlack	Read Replies (4) of 95453

Tulvio all good and fair points - what is different now is - The very worldwide market selloff that you are referring to. The mistake that I made was under estimating what it would take to get shorts to cover or for funds to flow to the oversold/under valued sectors.It had nothing to do with how cheap the oil patch was; these stocks could be selling for pennies and they weren't getting any action untill the overall market sold off. At these prices it was no longer about crude prices - Friday proved that - period/end of subject. Crude is not 100% of the solution 100% of the time; the core driver most of the time ? - sure it is. The only driver/factor all of the time ? - certainly not. And right now - right here; crude is a non factor. It had everything to do with the public not willing to get off the greatest bull-ride in market history. It was not as important - as to how far the oilpatch had fallen, or how cheap it was compared to other sectors; there was simply nothing other than a major correction (or Acampora's threat of one) that could shake people out of the big caps and into small caps and undervalued sectors. We now have the catalyst/fear to get people to act ! Isn't it amazing how we went from near euphoria on friday to the depths of depression today....has anything fundamentally changed ? The spin or interpretations on crude pricing/supply fundamentals and expectations also did a reversal - none of this was any longer a problem last friday; analysts were falling on top of themselves to be the first in line to yell the loudest that oil was the place to be..that crude prices were going to be just fine in short order... Once again; nothing has changed. If one can totally eliminate all emotion from his trading and look at the patch from a purely detached fundamental perspective; and then step back and take a second look at the markets sentiment and emotion - all the while keeping the two separate; the answer is the obvious. We allready had a preview of where the market would go and what it would do last friday - once again; nothing has changed. On FGII; ... because of my age, risk tolerance, spirit of adventure and most importantly, my absolute to the core faith in what I'm seeing here ; I will make one of those once in a lifetime trades. One that will cut me unmercifully to my knees or propell me to critical mass with an amount of cash, in which if I continue to read the patch correctly on the run up - when & not if; it happens - correctly identifying the 2nd tier breakout companies like CDIS, OMNI, DRQ , SCSWF, CXIPY that will be the benefactor of the 2nd wave of momenteum oriented money flows that will be coming into the patch ; I will make a leap forward financially to a level that might take me a decade otherwise. Nothing any different than what thousands of Americans do every day when they put their ass on the line investing every dime they have to start a business; this is now ''my business.'' FGII, EVI, RIG, RON & company are my business and ohhhh what a ride we're in for - it will not be boring --- let the games begin ! Ole~

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