Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: upanddown who wrote (31206)	10/27/1998 11:57:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

John; I'm not ''Bearish'' - Pigs get Fat - but, ''HOGS" get slaughtered... I have exited substantially, holding maybe just 35% of the level of Oilpatch Stocks from a week ago. One reason I left, was I saw a chance to catch the Savings & Loan small caps at a bottom - coming directly off of a major Oilpatch ''pop''. I am hoping to ''double-dip'' in essence here. I'm expecting the S&L's to ramp allmost to the degree that the oilpatch has ( room for 30-50% moves ); off of another Fed cut in November. Also, I moved into more E&P stocks that are the ultra-laggards in the Oilpatch - they give me even more ''leveraging'' to the ultimate moves in Crude or Natural Gas price movements. I did miss a substantial final move to a top here; allthough VTS which I had a very aggressive over-weighting to - did very,very well and I took profits off the table at $18+. VRC was unreal... I also missed the final spike on this, other than keeping a little longterm - not in the trading portfolio... This was just much, much more than I expected this soon; given the price of crude, earnings and dayrates... Perhaps it is a lesson on what can happen in a heavilly shorted & oversold sector that has a recent track record of such strong price swings in short periods of time. When the Mo-mo train starts moving - everyone jumps on at once and it ''feeds'' on itself... I just was NOT going to give up my trading profits again; ala - the early October selloff after the substantial September ''pop''... better safe than sorry - I'll take 30% knowing they can't take it from me, versus riding the Mo-mo train another 15-20% when the fundamentals just don't support a continued trend... I would NEVER have sold if Crude Oil was $16+ and dayrates, earnings etc. were improving. However - no one should get confused here; There will NOT be many ''cheap'' Oilpatch stocks when dayrates & earnings are great and with $18 crude ! So one has to buy ahead of the curve to some degree, but one also has to get ''out'' ahead of the curve - to ''count'' the profits; you don't have one - untill you sell ! good luck

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next