Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Elmer who wrote (28190)	8/23/1998 1:13:00 PM
From: waverider	Respond to of 95453

Elmer...spend some time and go back a full year and read my posts on this thread. You will see I was a permabull until May or so...especially after that classic head fake. I lost a lot of money in trying to fight the market. I got the hell out and slowly transformed for a religious zealot of the buy-and-hold faith to an active trader. If I hadn't, I would have nothing left in my brokerage account. Nothing. A few points: I can not predict the future except to say that I do NOT buy stocks that are in a clear downtrend. I used to. I never do now. I used to let my losses build. Now, I cut them at 10% NO MATTER WHAT. Takes emotion out of the process. That would be an excellent thing for most of the people on this thread. Every stock I buy I realize I'm buying the stock, not the company. I used to buy the company. Stocks act differently than the company. I am not interested in watching my capital drain away while I rant on and on about the company's great fundamentals. This sector is dogsh. When the bear downdraft comes, and it will very soon, dogsh sectors often get hurt the most. Just wait until you get washout volumes in some of these stocks. How do I know a bear is coming. I'm not going to go into it again. If you are interested read my last 2 months posts. Read LT's stuff from the spring. And look at this chart: 207.95.154.130 We keep bouncing off that 8350 +/- level with less and less conviction. and this chart: decisionpoint.com You've got a nice downtrend getting established. Not nice. I'm short. I have puts. I am making money. In this game, that is all that matters. Good luck on your end. <H>