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: SliderOnTheBlack who wrote (28285)	8/25/1998 11:27:00 AM
From: marc chatman	Read Replies (1) of 95453

Not buying here. The trend is still down for virtually all these stocks. Look at the chart of your blue light special CXIPY, for example. Is it possible to make money trading the long side against the trend? Sure it is; maybe even today. Is it a good percentage play? Not in my opinion. Not according to any of the texts on trading I've ever read. Not according to the professional traders I know (admittedly, I only know a couple). There should be plenty of opportunity to trade these stocks when the trend turns. Averaging in some for a long term hold would IMO be a better play than trying to make a short term trade against the trend. EDIT: The OSX just upticked. If it goes straight up from here, I want full credit as a contrary indicator. <g>

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