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

To: marc chatman who wrote (31058)	10/23/1998 12:16:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Ron; your Stoch - ''early sell signals'' worked on the money... I missed a bit of the froth at the top; but am pleased with my exit. I traded VTS in a massive way from the $10's to high $17's & took it all out. Only big move that I missed was FGII - which I'll re enter along with other stocks on dips here as I sense a good entry point. I was able to use my cash well; daytrading BT successfully and picked up a couple of S&L stocks... The ''skittishness' of this rally and the changing direction of big blocks that are moving with the wind here; makes this a very risky market; the ''play'' was to buy at the Sept 1 or Oct bottoms and hold or sell at these tops and re-enter if one is a trader... I expect this to continue. RON is a classic example of how this sector will move up in stairsteps; in a series of higher lows & volatile higher highs... curious as to if RON bottoms here in the $28 range vs. the prior low $20's; I will be totally surprised if it holds $30. Not trying to rain on anyones parade, but again; I want to see steady fundamentally driven legs up; these spikes are trading opps for sure - but I'd sure hate to try entering for the first time o these MO-Mo moves... goes back to the market timing challenge; if it's not on fundamentals (crude prices , dayrates & earnings) - I'd wait... Me; just a trader here with some LT holds purchased at the Sept 1 & Oct lows. I like some laggard E&P's here...did not follow the drillers. Good luck all I really like VRC GLBL FLC FGII PGO & VTS on dips from here. I'll play FGII as my MO-Mo trading stock here in the $12's to $18 soon on another rally; RON & RIG are a bit rich here, just a TAD; sub $30 - solid ! The KEY here is that no one is predicting a return to low's for CRUDE...the chart for crude below shows a great double bottom forming - this will be a great indicator for me to move in big <VBG>...I felt this would be a bit early for a rally; I'll move on a firmly established double bottom in crude off of this chart only ! tfc-charts.w2d.com