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

To: The Perfect Hedge who wrote (4111)	12/1/1997 4:59:00 PM
From: Big Dog	Respond to of 95453

Glen -- I can't say that I am enjoying this carnage, but I have extreme faith in the commercial side of the oil business. I know this business. These companies are making LOTS of money. How many other stocks have you (or others) bought where the company's only money was that which they HOPED to make someday. Look at the multiples for those stocks on weak fundamentals. How many have you bought that was actually LOSING money? A few I imagine. These companies are putting the do re mi in the register NOW and will continue to do so for a good many years. I have made some trading mistakes and regret those errors. However, I have learned how to be a better trader through all this. My main regret is that the end of the year is close and I will have to sell some losers that will be winners in January. (I will likely rotate into other stocks in the sector.) The value of these companies will pervail. Also, wouldn't this be a great time for some takeovers with the weak stock situation? Best buy right now for leverage is GW, IMO.