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

To: Lucretius who wrote (4406)	12/4/1997 12:37:00 AM
From: AltLar	Read Replies (4) \| Respond to of 95453

Over the past month I have only posted on this list a couple of times but I have been reading it religiously throughout the day, everyday. It has been a tremendous consolation during the recent turmoil. Thanks to all on the thread. Eight months ago my father-in-law passed away and left us a stock portfolio well into the six figures. It was mostly invested in blue chips, heavy into the banks. This stock picking looked do-able so when the banks started topping out several months ago I sold them and moved into the oil service sector (ESV, NE, CKH, FGII, TDW, & EVI). They were all on a tear and I was pretty proud of myself. Then the calamity hit. I was faced with the realization that I had lost about $50K of my families money (you see Glen you weren't the only one hurting). It now looks like redemtion may be at hand. But in light of recent events I have to wonder whether I should change my investment strategy (hang the risk - go for the growth). I've been reading the book Mike recommended by Elder. It seems pure TA. So I'm thinking if I get the hang of TA I can protect mysels, as Elder suggest, with stop loss orders. Then Lucretius writes "...Never sell my stock for S-T profit. Too much tax!...". Now I am really confused. I realize I have to decide what works for me but I'd really appreciate hearing some thoghts of others on this thread on portfolio management stategies (I realize this is "off topic" and hope y'all will indulge me, after what we've all gone through in the last month y'all kinda feel like family). Basically what I am questioning is is it more profitable to set logical stops to prevent losses like many of us suffered recently as opposed to hanging in to avoid the tax liablilities and risk of missing the bus?