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: shust who wrote (42480)	4/17/1999 11:54:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

shust; you really make a good point - ...I allways like your comments. Your info on SLB & HAL hiring in the fall drives home my view that it indeed is a ''when'' and not an ''if'' question of the Oilpatch making a dramatic recovery. However, the $64 question remains - how will the Market price both the ''timeframe'' and the actual fundamentals, or lack there of ...? In a way, your comments supports my view. << For the long term investor who has hung on we will be looking back at this downturn as a blessing. Holding long. I just can't believe the amount of people who can't hold onto stocks for more than a week. Days for that matter. I'll bet that there are about 75% of people on this thread whose portfolios completely change within 1 year.>> shust, I am not supporting any ''daytrading'' type of trading here. Buying into any of the bottoms of the last 6 cycles will be substantially profitable for all who did, longterm. But, in reality; in a market that has returned 30% year, after year of late by merely being in index funds; how can anyone justify 1 year+ of ''zero'' return in the Oilpatch ? Because if you bought and held - that is exactly what you would have gotten during the last 18 months ! - unless you took some profits/sold. I am only trying to point out what is working for me after learning the hard way - what didn't work. ''Position Trading'' - by taking at least some profits (no reason to close out entire positions) at the clearly defineable and predictable tops of these ranges of late and the re-buying on any of the 6 retracements in 8 months has been not only profitable, but incredibly so... it is NOT daytrading; it is position trading and has not been that difficult to do. For those who do not have the ability to sit and watch the screen during market hours; the use of limit buy and sell orders is a great technique. I often do not have access to data all during the day. 1/2 of all of my purchases are caught on limit orders; of late - many of my sells are limit sell orders that get triggered as well. I have planned my trades and tried to trade my plan (thanks Big) - and it is working in spades for me fwiw...I am not a professional trader - far from it. Today's tools and research somewhat level the field for the little guy. Trading is no longer a dirty word and indeed is an effective technique for the individual investor when used prudently. In all respect; perhaps the door to ''trading'' needs to be opened a little wider here in the Oilpatch and not viewed as a Sinfull practice, or impossible technique to master .... (i'm not saying this is your stance - just that this impression exists by many)... Larry C; - your comments do hold the ''key'' to this being a new step forward and a ''real'' breakout. That key is ''if'' this massive sector rotation is real and if it will stick. I temper my enthusiam here, as more than one influential pundit has said - nope. Hope they are wrong - as I have no problem riding the E&P train right along side eveyone here - and I still do have a few OSX stocks (vbg)...

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