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

To: drsvelte who wrote (15716)	3/20/1998 5:12:00 PM
From: Thean	Respond to of 95453

Dr., am I a "slo-mo MO (has)no-mo investor?" I've split personality. Those blue chips are there for years and I don't even know what their current earnings are. They just keep going up, slo-mo-ly. The other part is my active portfolio where my goal is to churned to generate a 3 digit return a year. I reached and exceeded my goal last year based on trading the drillers alone but I broke into unfamiliar ground and gave more than half back by investing in those darn DD's. My mistake was to hold on for too long when they were dropping! Another lesson for never holding on a losing stock and hope for a rebound. I'd not have done that in the drillers because I know those short term cycles too well. Marc, Regarding the RIG breakout lookout, if you look at this chart, the most striking thing one sees is the U loop that is to be completed. I'm talking about the BB gut that hangs out like a U loop. iqc.com There are resistence and close above $50 is the first of them, then to $54, then to the old high. However, one can also draw a trendline connecting the high's since its low last month. What I'm looking for #1 is - oil price. If it moves up $2, everything will go up no matter what indicators you see. They will all be up, period. If oil price turns weak due to failure to coorperate among OPEC/non-OPEC, then those resistence levels will become more relevant. Also look at the upper BB and Ron's stochastics. Somehow one way or another, there is going to be a move soon, up or down I don't know. That's why I set stop to protect my gains. If it accidentally triggers and the stock turns around and go into the next tranding band (whatever that means), I'm back in and probably miss a few dollars. However, since January, I would have made no money if I just sit still and watch the wave come and go. It's was all in the trading range. Ron's summary of the wave of sentiment is a good read. I'm signing off till later.