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

To: Art Bechhoefer who wrote (30066)	4/2/2003 11:48:20 AM
From: Frank Pembleton	Respond to of 36161

Art... I'm not trading for the long-term, you can't in this kind of environment. In case you haven't noticed we've been set-up for a powerful bear market rally. Fwiw, the best way to play these things is by buying the worst of the worst-- the most levered of the levered, the fugliest of the fuglies. Boom Boom Room likes the Utility stocks, well...I like anything to do with airplanes. I may have lost my shirt on Air Canada, but if they would of pushed back their bankruptcy for another couple of months we'd be seeing double digit gains here today. Both CAE and BBD are up substantially since I've bought them and that certainly offsets the losses I took on AC. ...and it certainly offsets the losses I would of received if I would of stayed long on gold stocks. Btw, sold Air Canada (AC-TSX) @ $1.00 (-50%) bought Nortel (NT-TSX) @ $3.14. Regards, Frank P.