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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (4413)	11/26/2001 12:37:59 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 36161

Doug F re: ENE ...you've got a stronger stomach than I do (vbg). I've pretty much been cured over time of chasing these debt-implosion stories. Rarely does the individual investor have the real facts & the bond/debt holders having so many options & often control the "game" - that I've just decided not to play these any more... especially one with such an intangible & unhistorically supported component - like the Derivatives Trading component to this story... that's the "trade-breaker" for me on this one... the derivatives are a wild-card imo, that makes making a bet - a true "gamble". I've come to believe that in the patch if one is patient enough; that one will allways be able to buy the financially strongest companies at such "over-swung" discounts; that other than speculative mad-money; I just leave these companies alone now. The 'patch has been littered with once high flying darlings - crashing & burning... ie: FGI/FGH, HMAR (Hvide marine) etc. FLC, PKD & KEG on the last downside cycle were all near casualities - as were a few others...those "borderline" companies - teetering at the point that the Street begins to "speculate" upon their possible demise - versus an "on-going" actual implosion story like ENE are tempting for "speculative, mad-money" but ENE-esque stories no longer attract me at all... I "slap myself" anytime I catch myself starting to get interested in them (vbg). Good Luck Doug... you're one of the few whom agreeing to disagree with is all ways an educational experience. I've all ways enjoyed your posts & industry perspective. Good Luck with ENE... there just isn't enough Pepto-bismal, or Tums in the Slider-house for this one, for me...I don't know if I'm getting wiser of just older~ ;)