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

To: AltLar who wrote (4421)	12/4/1997 9:08:00 AM
From: SJS	Respond to of 95453

Larry, Take a step back and take a breath. Are you investing or trading? Do you need the money now? It's only a calamity on paper, and yes it hurts, but if your horizon is longer and you read this thread, and confirm your picks with independent research, you'll be just fine in the LONG TERM scheme of things for some of your money. I would think about segmenting your entire portfolio into long term core holdings in one segment and some "play" money for trading in possibly the same segment. That might allow you to be more or less agressive with the ST stuff. Sell, Buy, day trade, week trade. For the ST stuff, ST is implied. It also permits you to shuttle in and out without concern for tax consequences, which by implication for ST trading, is just ordinary income.

To: AltLar who wrote (4421)	12/4/1997 9:18:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 95453

Nothing wrong w/ S-T profits if you have to sell. I like the L-T story of these drillers and see no reason to sell my recent purchases simply becasue they've moved up over the last few days in a vain attempt to time the pullback (if there is one) and buy back low again. You usually end up w/ no stock on the way back up and a hefty tax bill. Good Luck! -Lucretius

To: AltLar who wrote (4421)	12/4/1997 9:47:00 AM
From: freeus	Read Replies (1) \| Respond to of 95453

JUst my two cents worth. And as bad as I've done it probably isnt worth much more. I had a wonderful run up in UTI and FGII I took some of the profit in UTI (glad I did) and bought it back at 30, thinking that was the low. It wasnt, but I'll probably see another run up to 40. I didnt take my profit in FGII and wish I did, could have done the same thing, bought it back lower and rode it up. I dont think stop losses are good because if your price misses because of volume (probably not too likely in these smaller volume issues but a possibility neverthelss,) you can end up selling for way lower. A mental stop price is better and then be strong and sell at that price. I hate taxes too, but a gain with taxes owed is far better than no gain. freeus

To: AltLar who wrote (4421)	12/4/1997 2:37:00 PM
From: carl	Respond to of 95453

Larry - I think a couple of things are key. First, how much time do you have to put into the market on a regular basis? I don't think one can S/T trade successfully without a full- time commitment, but maybe I'm wrong. Look how hard Thean and others are working. Assuming you don't want to go at it full-time, I would assess your interest and propensity for picking stocks. You may want to make a lot of money but you may not have the desire to put a lot of time into doing due diligence, reading the boards, etc. There are excellent strategies that can make you a lot of money (20%+ a/yr) with minimal effort. I strongly recommend you read the Motley Fool Investment Guide by Tom and Dave Gardner to learn their thoughts on the steps you should take as you become increasingly interested/sophisticated re:investing. If you are on AOL, go to their website (keyword: Motley Fool) where you can read their 13 steps which summarizes their book to some degree. Also recommend any of the books by Peter Lynch, such as Beating the Street. Good luck to you. Carl