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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (37039)2/8/1999 10:41:00 PM
From: Dwight E. Karlsen  Read Replies (1) of 95453
 
Slider, I've been a casual/intermittent lurker on these threads since April-May '98, when I last sold my call options on several drillers-barely breaking even on a bounce. Since then I determined that since I'd been wrong on my first guess as to when the drilling/Oil service sector would recover (actually second guess-first guess was Dec. '97), that the best course would be to not try to out-guess the market, but simply wait and watch, and not be suckered into any dead-cat bounce. I've only slipped up once, buying RDC stock at 14-1/8, selling for a loss at 10-1/8 (last summer).

In my lurking on this thread, I've noticed that you've been a raging bull for quite some time--how many months now? My question is, are you ever going to acknowledge that your timing has been terrible? Honesty with one's self is always a good first step. With the drillers and oil service stocks currently hovering near 52 week lows even today, will there ever be a time where you will move on to greener investment sectors? These stocks had made some nice gains the last few days, only to suddenly collapse in one day--again. It's really not surprising anymore, or shouldn't be.

DK--avoiding the patch like the plague.
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