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

To: The Perfect Hedge who wrote (14567)	3/12/1998 11:39:00 AM
From: dougjn	Respond to of 95453

Shooting the messenger is kinda dumb, don't you think? I suppose you all are kidding, sort of, but its rather a lot of energy, isn't it? I got into drillers a month or so ago, and out of them last Friday. It was the only area I wasn't making money in, so I bailed when the rallied a bit, since I see the next several months a lousy. I mean, what on earth at this stage is the argument for the drillers not retesting their lows, all of them? At least? Seems to me even now the smart thing would be to sell, and buy back in a month or several. Buy back when there is real tangible expressed concern about the price decline lasting for months rather than rebounding, and fear about drilling budgets being slashed, at least near term, etc. I think that is just barely beginning now. It will increase a lot. Doug