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: SargeK who wrote (42753)	4/20/1999 2:13:00 PM
From: SliderOnTheBlack	Read Replies (6) of 95453

Where have all the posters gone ? What a difference a day makes... UFAB & PGO with good news, FLC's new Rig is loved by Conoco....hey, there is some good news out there... I still say that $17 Oil will be ''old news'' much, much sooner than anyone thinks - also we are now set up for $15-16 Oil to become a psychological disappointment between earnings periods (the deadzone). This isn't an entirely bad thing - as it will bring another buying/trading opportunity. Folks, in my very strong humble opinion; we are NOT in a buy & hold enviroment - not as long as we have what I call the ''Dead Zone'' between earnings periods - where there is little expected fundamental good news left to keep us moving in the direction we all want to be moving.... Crude can NOT keep going up at this rate - again, even a slight, normal retracement becomes the dog that turns and bites us.... this is a cyclical range within a cyclical sector - TRADE IT ! If we drift lower crude price-wise... then what will keep us afloat when the spotlight is once again shinned on the fundamentals ? Unless you were taking some profits of late - ''aint'' a whole lot you are going to be able to do about it - especially if you were on margin and buying on the run up and holding... If there is ever a case for profit taking all the way up an entire parabolic run - it is when you are on margin... 2-3 days like today on margin - if one is just ''holding'' will wipe out 25% of capital ! The entire point of margin is to leverage your profits - what good was margin if you weren't taking those leveraged profits !!!???? - what good was the entire run if you didn't take profits here ? Taking Profits = CASH. CASH = more options More options = more Profit taking opportunities which = even more cash ! Excepting some unforseen miraculous run by Crude to $20 - I do not think crude prices alone can keep us cooking here... maybe we hit $20 - who knows ? - just not a bet I want to make off of a 50% run up and those profits dwindling away once again if you didn't take them...

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