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: Platter who wrote (36142)	1/29/1999 8:34:00 AM
From: SliderOnTheBlack	Respond to of 95453

Today will be an interesting turning point... Unfortunately; I'll be out all day and will not get to ''see'' it, but I think some individual stocks could get some buying support today. RIG RON WFT look attractive here, I think value players will start making entries here to balance the Funds that are clearing out losers at month end... I'm pretty much flush here; couple of remaining limit buy orders at -5% from here on a few individual stocks. I'll trade this as a ''bottom'' - again hoping to get ''IN'' a little early and then to get "OUT'' a little early on the way back up again... If I miss here by no more than 5-7% then I accomplished my goal, I want to be ending my limit buys as we reach the last 5-7% of a bottom; I do not want to chase the ''turnaround'' and have to buy on the way up - only to be ''head-faked.'' I think both the technicals, the fundamentals and the potential news ''events'' are more positive than the 3 prior run ups. So owning RIG at $24-6 , RON $23-4, VTS $12, CXIPY $29-31, PGO $13 etc... should give me a ''exitable & tradeable'' run of 25-35% once again, even without any event catalysts... Another trading range, gently rolling, untill OPEC announces new cuts, or we get 2-3-4-positive API/IEA reports in a row. On the downside - the risk is ''deadmoney'' sellers just moving out and rotating into ''hot'' sectors; personally I think they realize we are very ''heady'' in the overall market and actually; I think we will benefit shortly via sector rotation even with no positive Oilpatch events... Time will tell; I'm playing the 4th ''Wave'' here, untill the Street shows me the rules, or the game has changed... good luck & be carefull out there...