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

To: energyplay who wrote (79290)	11/17/2000 9:24:29 AM
From: Tommaso	Respond to of 95453

Like you, I bought some QQQ puts, with the good luck to get them at a temporary NAZ peak, and am holding my XLK short position with plenty of extra margin. Never have got up the nerve to leverage my energy positions--still stunned by what happened in 1998, I guess, which I never thought possible. Prior to that, oil prices seemed headed steadily up a protracted climb. In any case, happily, I wasn't margined in 1998 or else I would have been wiped out. I think what happened to me in 1998 is happening to a lot of other investors now.