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

To: upanddown who wrote (31676)	11/10/1998 5:08:00 PM
From: The Ox	Respond to of 95453

John, you should know that H and LT don't go together! LOL! IMO, Michael

To: upanddown who wrote (31676)	11/10/1998 11:14:00 PM
From: diana g	Read Replies (2) \| Respond to of 95453

hi John, In reconsidering my previous post, I think I unfairly overstated LT's presumption. It's not really accurate to use the OSX percentage change as a measure. It would be more fair, imho, to use the drillers' stock price change. LT tells us he is short NE, which is down somewhat more than $1 (~17 1/8 to 15 15/16) since his 'down 50-80% from here' post. So that's more than the OSX change. Still well short of 10% though. And a bit early to claim his prediction was accurate, imho. ( I Promise -- When NE dips below $8 5/8, I'll post to LT that he sure was right, and ask if he thinks we should wait for $3 1/2(-80%)to buy, or should we average down?) Making such disproportionate claims about the accuracy of his predictions does seem to be part of LT's pattern. My memory of events is that LT was very bullish on the sector up until NE's CEO projected 'hard times ahead' back in the spring. This turned out to be a good call, and I'll credit LT that he knew good sense when he heard it. Teddy and others also stepped aside. (Me too, but I stepped back in too soon -- several times <G>). A while after that LT began repetitively predicting a major economic collapse. He seems to have stuck to that, regardless of changing circumstances, and must be credited with being constant. The thing that surprises me about LT is not he himself. After all, this is not an uncommon sort of person. But I am surprised that some seem to think highly of him. Anyone who has looked past his self-important, confident manner and checked on what he predicted and what really happened at various times must conclude that while he's sometimes been partially right, it has not been nearly as often nor to the extent that he seems to think. Are some SI posters really so gullible that they are hoodwinked so easily??? --------------------------------------- I think the real danger of LT and his ilk may be that we too easily believe that whatever position they take must be completely wrong. We need to coldly consider all possibilities, and not (perhaps unconsciously) disallow the possibility of partially agreeing with LT or others of his sort, whatever their positions. ---------------------------------------- Personally, I am long for the long-term, and viewing dips of whatever magnitude as opportunities to increase my position and decrease my average cost. regards, diana