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

To: Bazmataz who wrote (12573)	2/23/1998 12:22:00 PM
From: Swede	Read Replies (1) \| Respond to of 95453

Yeah, and its "lucky" investors are guys who bought SIX to NINE months ago, or even three months ago, and HELD ON because they were buying value, not news bites and short term EXCESS CAPACITY fears.

To: Bazmataz who wrote (12573)	2/23/1998 1:04:00 PM
From: SJS	Read Replies (1) \| Respond to of 95453

Barry, I said that and it was relative to other stocks in the sector. I hate being down at all, but I'd rather be down 3% than 6%. Will investing here be throwing good money after bad? I don't think so because in 1 year, after having built a better average price, I can get out if I want to with just opportunity loss (by not having the oil money in hotter segments). If I don't average down, then I have to wait 2.5 years to get even. If I sell now, I take large losses. Maybe I am trying to learn patience. I buy puts. I write calls, lower my basis and grind out a better average price. We're closer to the bottom than the top, and if there's 15% more downside, I think I can take that pain. If there's 40% more downside, then we all have problems. big BIG BIG problems. Just my take.