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

To: jim_p who wrote (72509)	9/6/2000 11:47:00 PM
From: AltLar	Read Replies (1) \| Respond to of 95453

Crude up to 35.06 after hours at MRCI.com. I continue to beleive this rally will continue without a major correction (>10%) for sometime. Just look back at the length and slope of the previous up cycle which ended around 3rd qtr of '97. (using FSESX as a proxy for the OSX) finance.yahoo.com Now compare the currentfundamentals, particularly the price of crude, with the fundamentals when the previous cycle broke down: mrci.com You will notice the price of crude is much higher with a stronger uptrend than the previous cycle. Also in the previous cycly crude fell sharply off its highs well before equity prices started to fall. As FLC suggested in their last conference call the previous cycle may have been a virtual cycle i.e it never really ended but was only interupted by the an anamoulous set of factors which artificially (and temporarily) depressed the price of crude. We have just been playing catch up and are only now resuming the uptrend of '97. My strategy for playing this uptrend continues to be using margin up to 50% of my account equity. I am following my margin purchases with a stop loss order of purchase price -5%. After the price rises to + 5% the stop is increased to purchase price, after price rises to +10% stop is raised to +5%. After that I am adjusting stops up to purchase price + half the gain. As my account equity rises I have more margin to use and am able to continue to pick up on laggards or bolster my position in current holdings. I am sharing this strategy not to brag (though it has proven extremely effective over the past two months), but rather to ellicit constructive criticism and to encourage others to do likewise. Larry