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

To: NucTrader who wrote (22969)	5/28/1998 11:51:00 AM
From: mph	Read Replies (1) \| Respond to of 95453

<<gobblers like myself.... >> Is gobblers a reference to being a turkey, or are you a real big spender in the market? <g> I'm on the sidelines myself, from a buying standpoint. Just waiting to see what happens. mph

To: NucTrader who wrote (22969)	5/28/1998 12:08:00 PM
From: Minos	Read Replies (2) \| Respond to of 95453

When is the big bounce coming, that's the question? This afternoon, next week, next month? I've been thinking about shorting the airlines - I know, hardly a novel idea - as a way to hedge. My thinking is that this will allow me to participate when the OSX bottoms out and heads back up, but it still protects me from this very weak market environment. Even if th OSX drifts lower and our beloved drillers continue to swoon, the airlines would also get hit if the market continues to correct or even tanks-- yes? Would appreciate comments! Best, -Minos

To: NucTrader who wrote (22969)	5/28/1998 12:33:00 PM
From: rocklobster	Read Replies (2) \| Respond to of 95453

OSX rallying,..... But, has made a lower low every day for 9 consecutive days. Shorts will short the hell out of any osx rally until there is some reason not to like news from OPEC, draws on crude, crude price rally. My opinion is shorting rallys is a much safer strategy right now. Be nimble though. I have discovered that I am not a daytrader. I don't have the discipline to act quickly.. When my stock is going up, I always hold on waiting for more and often watch my gains evaporate. When stock is going down. I always want to hope it will come back just a little. Then when it does, I think ,..... Well maybe it will keep going up, and then it drops again and I don't want to sell at a loss so I just ride it down further. Eventually, It drops dramatically and I sell out in dispair taking a huge loss, only to watch it rebound. I am leaning more towards position trading for short to intermediate term hold. This stock market game is extremely humbling for a newbie (8 months) like me. Later, Richard