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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (65010)	4/19/2000 5:08:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Slider, I agree on the drillers long term, it's just a question of timing. I think you have to have your core OSX holdings in place, but I'm not so sure I'd overweight the drillers yet. The OSX has held up well, but it could still be a source of funds if the techs make new lows (Naz 3000?). Some of the OSX charts look like techs stocks and momentum can work both ways once it gets started REGARDLESS of fundamentals (KEG). I sold my VPI before the close to raise money. I'm almost completely off margin (again). I am a margin junky. It's so hard to get completely off when I see so many great buys. If I need to I can sell some E&P's and get completely off pretty easy. I will trade the E&P's here and hold the drillers and techs. If we make new lows in the Naz I may go 70% tech, 30% OSX plays get off margin and turn off my computer for 6-12 months. Ultimately I want to be 50% tech, 40-45% drillers/OS, 5-10% gas E&P's. Right now I'm probably 30% tech, 40% drillers/OS, 30% E&P's. When you're talking long term about drillers vs E&P's you're really preaching to the chior when it comes to yours truely. Currently I only hold OEI, SFS, BSNX and FST in E&P's. I think all can still double by Jan 2001. Once E&P's hit their peak as they did in the past they tend to trade sideways. It'll be a good source for covered call writing while I wait to take long term capital gains.