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

To: Frank Pembleton who wrote (13380)	5/28/2002 10:11:53 PM
From: Little Joe	Read Replies (1) \| Respond to of 36161

Frank: I don't know about the habits of others on this thread, but I like to protect my profits. While, I think long term gold will go much higher, I do not hold that as a religious belief. Markets tend to fool us more often than not and a healthy skepticism will save you money. When you are long, ask yourself what would cause me to change my position? If that occurs get out. Right now the charts on many stocks are as close to vertical as I have seen. This tells me that caution is in order for the near term. I have long term positions and I have short term positions. I HAVE STOPS OR MENTAL STOPS ON ALL POSITIONS. On my short term positions, I have some sells in above the market. All long term are under the market. The point I want to make is that in this overbought stage of the market, we need to expect a correction and protect our profits. Little joe

To: Frank Pembleton who wrote (13380)	5/28/2002 11:44:15 PM
From: TrueScouse	Read Replies (2) \| Respond to of 36161

Frank: I must admit I'm surprised at the strong reaction on SDII for even suggesting a small correction may occur. When I say that I'm "30% cash", what I also mean is I'm "70% PMs"! That's a pretty bullish position. If you have no cash, how do you take advantage of the inevitable buying opportunities that come along? Regards, Howy