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

To: isopatch who wrote (91719)	6/24/2001 1:39:22 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 95453

<<Whaddaya been doin' with Mr Market lately?>> Still long gold, not changing anything there. Covered shorts on the oil service companies on Thursday and Friday (ATW was my last short position). Actually added a very small (long) position in KEG and PDE for a trade on Friday. Have small put positions in the OEX and Dow, and a larger put position in LOW and PHM. Short some retailers (BBY) and credit card trash (COF). Also some garbage I-nut trash (WEBX). Covered some shorts in big cap tech (TER and MU, although I think the semi-equipment cos have lots of downside left in general). Actually flipped some JDSU and GLW long on Thursday-Friday. Overall, keeping lots and lots of cash. It's a dangerous market environment for pretty much everyone right now. Regards Patron

To: isopatch who wrote (91719)	6/24/2001 1:40:39 PM
From: isopatch	Read Replies (1) \| Respond to of 95453

Forecasting and Trading. Making forecasts and calls are interesting, challenging, and fun to do. I've made some important ones that've panned out very well during the past year. BUT, it's the trades you put on and when you make them that make the money. Once I'm in sync with the primary Intermediate (1-7 month) Trend in a sector like the patch or the golds, it's stock selection and timing that pay for my very comfortable lifestyle. So, working on ST IT and LT reads of specific stocks in a few target sectors is where my focus is most of every business day. Knowing when and where to cut losses and let profits run is a very important part of that. IF and I do emphasize this point: If you don't fall into the trap of becoming highly emotional with bearish fear (or bullish greed), you can be successful. Most investors cannot do that. Otherwise extremes in investor sentiment wouldn't be such an effective market analysis tool. The big picture forecast is only the 1st step to being a successful investor. IMHO what people DO (esp if they post close to the time of their buys and sells) demonstrates a whole nother level of competence that few have and most do not. I've made some serious money on the recent rally out of the late Mar/early Apr bottom. But, during the past 2 weeks have been gradually raising cash, in preparation for the next market decline, as individual stocks got up to or close to important resistance levels. Plan to continue to doing that in a calm, objective frame of mind. By the middle of last week cash was 60% (up from 30-35% a month earlier). Reload on KGC was my only buy last week. PM stocks continue to look like the best trades going forward. Well, the real world calls so am outta here<g> Best regards to everyone, and hope you all had a great weekend. Isopatch

To: isopatch who wrote (91719)	6/25/2001 12:43:05 PM
From: Roebear	Read Replies (1) \| Respond to of 95453

isopatch, Looks like the dew is off the mornings HM news related XAU/HUI rally. I am quite relieved that things didn't take off as my holdings are low and cash very high. Goldbugs, who don't like ABX anyway, are not getting excited about the HM merger according to posts I've read, they are worried about more leasing from HM reserves. Now would ABX do a thing like that, ggg. In any case, a contrarian setup in my view. Likely that Fed cut puts the dollar up temporarily on expectations of a rally, or will the same old medicine no longer causing any therapeutic response? Perhaps Greenspan has another rabbit? IMHO, neither a dollar rally or market drop will do golds any good short term in this market and that's fine by me as I am looking to accumulate on weakness. In any case, st this XAU rally MAY have no legs, LT to me the fundamentals are buttressed by the HM merger and the dollar chart which looks to be topping (of course I could and have said that for six months, ggg). The XAU/HUI bull may be a relatively long process and that's just how I am liking it! Best Roebear