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

To: waverider who wrote (14246)	3/9/1998 7:24:00 PM
From: Czechsinthemail	Respond to of 95453

Merger news: biz.yahoo.com Baird

To: waverider who wrote (14246)	3/9/1998 8:05:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

Diamond, in the world of investing one has to be flexible. There are several ways of looking at TA. The way you laid it out it is with pessimism in mind. When you said "if you bought on technical analysis, I would think you might panic and bail at this point." This is true to some novice, but definitely not true to those with a conviction and fluidity as strong as those who believe the drillers will be a winner long term. If you were to follow Ron's technical reads, you would have saved some money and with those money you may even be buying more shares as they dip further down. P&F is just but one form of the entire spectrum of TA. It pays to recognize and understand the nature of the indicator (whether it is the everyday useful BB or long term trending P&F). Also, there are times when the market just throws TA aside and focuses on things such as crude or natural gas price single-mindedly. One of the strength of this board is there are always people bringing forth different perspectives and if one can open up one's mind and not be restricted to the subsription of only certain investment philosophy, one should be able to take advantage of the combined knowledge of this board. Beside Ron, I'm sure there are many who have managed to sell into strength in the recent rally and are at a better position to fill the tank up when they bottom. It is folly to think that those who sold will regret it when the stock goes up. The reality is closer to those who sold get to buy more shares when the price become cheaper.