Good Comments
Thanks for your perspective, Rod. Unlike Zeev, I actually agree with you that the timing is just incredibly ironic (and unfortunate), but not indicative of anything sinister on management's part.
On the other hand, while it may not be very much fun to be an operator right now (like you), it doesn't necessarily mean that one cannot have fun investing in the industry right now. Unfortunately (or fortunately, depending on your perspective), momentum investors tend to ride the trend down as well as up. One just has to keep an eye on the fundamentals (fortunately, supply & demand still drive trends in this industry) and ride along with the herd, even if it feels a little uncomfortable at the time. For example, HEC just made a new 52-week low at 1 11/16, and with a little more tax loss selling left in 1998 and the debenture pricing date of January 9th now a certainty before results will be known on the latest Islero side-track, I strongly suspect that we haven't bottomed yet. Simply more evidence that investors should never make the mistake of "only batting right handed". Remember, as I said once before, Babe Ruth was a lefty.
Good luck to you and the other longs.
Razor (a/k/a Snide-man to Ed) ; |
