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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: buckbldr who wrote (124979)	10/16/2009 11:12:54 AM
From: GREENLAW4-7	Respond to of 206183

You have to understand how I trade. I could be long and short at the same time. I liked the market at the bottom, and I liked the bounce up into mid may early june. The oil move got very ahead of itself and I sold my longs in May. That does not equate to being net short from may to oct. In fact I was very long XLE and OSX on that bottom in July. I sold longs after that pop. Lately in the overall market I have become very uncomfortable being long overnight. That being said I am unhedged and only short for the moment. Oil has juice in it and could pop quickly to 82-85, that does not mean I will be short oil as it breaks out. I am short the stocks not the products. I hedge at times with USO, SCO, and DTO but nothing significant. Currently I am holding OSX, XLF, IYR, IYM, XLE and QQQQ short Current move in energy looks very promising for shorts.

To: buckbldr who wrote (124979)	10/16/2009 11:50:26 AM
From: JimisJim	Respond to of 206183

Although I still have a toe dipped into the OSX pool via RIG, I tend to agree with Greenlaw in that we are overdue for a short correction in OSX before things heat up again sometime next year, IMO... I have been selling/shedding into strength of late and waiting for a pullback (with limit orders in) in the sector. The fundies just don't support continuing up, up, up in OSX here, but there you have it -- it just keeps chugging, but in OSX it is never a question of if, just when... so I am being very cautious here in OSX and energy in general except for those who are highly leveraged deep/utra-deep -- the only fairly stable segment of OSX of late and the only segment whose fundies, although somewhat soft, are credible enough to support valuations here. There is still a real shortage of deep/utra deep rigs... that will ease soon as more new-builds begin coming available... that shortage is one reason some operators/owners are going slowly -- one reason... there are of course others. Jim