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Non-Tech : Invest / LTD

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To: Seaworthy Lyric who wrote (3693)	10/4/1998 12:21:00 AM
From: waverider	Read Replies (2) of 14427

Just read this morning's business section of our local paper. A major ship building order at NASSCO (National Steel and Shipbuilding Co.) from British Petroleum was put on hold last week. They were to build 3 double hulled tankers. Soft oil market and shaky world economy were cited as the reasons. It seems pretty clear to me that the oil service sector is going to retest and fall right through their previous lows. On another note from the "hold for long term club" a columnist wrote with a headliner that "For many investors, buy and hold is the ONLY strategy that makes sense." Ride out the storm. You can't win if you try to time it. One of the main reasons he sites to buy and hold are the "transaction costs, commissions, redemption charges, and even postage." POSTAGE! POSTAGE? Gosh, I stay up every night worrying about all those 32 cent stamps I've wasted. When these guys wake up and finally figure out how bad it is over there, they'll be filing for food stamps. Unfortunately those who can't afford to be hurt will be hurt the most because they listened to these idiots. <H>

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