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

To: Bazmataz who wrote (12591)	2/23/1998 2:29:00 PM
From: HH	Read Replies (2) \| Respond to of 95453

Interesting post. I too have done substantially better trading 3- 4 month horizon. But, I realize that it is not necessarily my prowess or skill. During the last six months, we have had a lot of choppiness and volatility. My trading thesis during this time has been (as simple as it sounds) If I am initially wrong just wait and I'll be right, then I'll be wrong awhile and then right. So, get a position and sweat it out until you get the flow in your direction. I doubt this style will be good anymore. I happen to believe as Paul Levy that this sector is good value. I also think Thean is right that these stocks arent going anywhere real soon. So, I will start to accumulate GLM if it goes back to 20 or below. HH

To: Bazmataz who wrote (12591)	2/23/1998 3:00:00 PM
From: SJS	Respond to of 95453

Good dialog, and basically we are in agreement. Actually I do both ST trades and LT trades. I guess, like most of us, we cross the ST/LT threshold when we don't get out in time, and should have <g>. That's where many of us are now. Re-read my post about the things one can do with stock which is "way down" by some accounts: 1) Sell for a loss, 2) Average down with new stock, 3) Average down with call writing and more new stock. I am doing 2 and 3 and selectively trading ST with momentum opportunities (like that position in MDCO for the expressed buy/write that happened. Took 15% in 5 weeks, got called, and I'm done). Am I establishing new LT positions in oil? NO. I am trying to get the ones I now have to be profitable earlier. I am gradually lowering all my basis' WHILE I am learning to be patient. ST money is invested in other areas.