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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: OldAIMGuy who wrote (5327)	8/14/1998 6:09:00 PM
From: JZGalt	Read Replies (2) of 18928

Tom, thread.... Just thought I'd give you an update on the Offshore Drilling Bits AIM portfolio. Well.... the news is not good. Looks like I started out with too low a cash level (25%) and hit a huge downdraft. Wow! I've been sucking fumes with no cash to spend for this entire week and had one stock in the portfolio drop 17% today. It is ugly out there in the oil patch. It appears that I violated the rules a bit by buying, then setting the next target buy level without the "pause" suggested in the book. This "pause" would have allowed me to buy at better prices than would have been indicated because the sector is in freefall at this point. I knew the pause was there for just such a circumstance, but I honestly thought the sector would not continue to drop this fast or this far. Duh! So for right now the 5 stock AIM portfolio is down a whopping 38% in 5 weeks. The only good news is these companies are not going to go broke, so eventually reason will prevail and the prices will once again rise. May take quite some time however. ---- Dave jump.to

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