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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: MoneyPenny who wrote (777)	7/11/1998 8:59:00 PM
From: IN_GOD_I_TRUST	Respond to of 2282

I just got involved with GLM. Bought my first lot at 17 15/16. I think fundamentally, GLM is a great investment. I can't guarantee how low she will go, but I think long term GLM will be a winner. I understand your predicament though, trying to DCA to keep up with the downward trend. Sometimes you do have to cut your loses, even if you think a turnaround is imminent because your in too deep. But my suggestion is, from my research, if you can hang tough with GLM for a little while, GLM, and this whole industry will turn around and restore itself to its previous highs and beyond. I know you are saying, its easier to say when the guy started buying GLM at 17 15/16. He just started with this thing. But I truly believe I would hold tight if I was in this one at higher levels until it rebounds... Steve

To: MoneyPenny who wrote (777)	7/12/1998 11:30:00 AM
From: FUZFO	Read Replies (1) \| Respond to of 2282

Moneypenny, sorry to hear your situation with the drillers and oil industry. I cannot suggest to you whether to hold on or not because I really don't know either. I read your link to Jubaks take on oil and I agree with his view that when oil begins a solid confirmed uptrend these stocks should turn and turn quickly. But in the meantime here we are with general Asia still slow, Japan in recession, and an outside chance of a Russian ruble devaluation. At the moment I believe most service co's in Houston are postponing new hires until later. ON THE OTHER HAND, as the funny looking guy on CNBC with the bow tie, Jimmy Rogers I think , says, "buy when there is blood in the streets" this may be a golden opportunity to get in for 50% 60% 70% gains in the next 12 months??? Regards, Fuzfo