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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BigBull who wrote (42781)4/20/1999 5:19:00 PM
From: IndioBlues  Read Replies (1) of 95453
 
You are forgetting something critical BigBull...

Buy and hold may minimize the tax and commission impact, and protect against missing the upside move, but not all of us have the capital to sit around waiting, watching and wondering when THE move will come. Trimming 40% or more in quick roundtrip is not only prudent it is essential for those of us building a base.

Additionally, as yesterday and today proved to us -- the patch isn't the only place to find relative value. I don't think I could responsibly NOT consider liquidating some patch positions for healthy gains in order to take advantage of temporarily beaten down interRockets... (e.g, I sold FLC, CLB, RIG, APA for gains between 40% and %120) and took smallish positions in QCOM, ATHM, and LVLT. That seems to be working well based on today's close. You'll never hear me claim to be a rocket scientist -- it just seemed to make sense. Take what the market gives you.

Finally, even if as Michael says we are entering a sustained upward trend that is a trend that traders can play too.

Anyway, good luck to you. I don't write this in an effort to convice myself that my strategy is the best strategy or persuade you that your's is wrong. Each of us has to do our own balancing of risk and reward in light of our resources.

There is no one
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