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

To: Crimson Ghost who wrote (38038)	2/23/1999 2:58:00 PM
From: The Ox	Read Replies (1) \| Respond to of 95453

I am far from utter hopelessness! Maybe my posts come across this way? I just think that investing on HOPE while the long term trend is down is a formula for disaster. If you are investing in this sector with your eyes open to the potential pitfalls that are still in place and you understand the high risk associated with making such an investment, that's completely different. I dipped my toe in the (OSX) water back in December. I choose carefully and even though this sector has continued down, I have basically broken even on paper. My winner has out performed my 3 losers and at this time it's basically a wash. I wouldn't have invested in this sector if I felt that it was hopeless. I just don't go for the cheerleading expressed by some on this thread. While many stocks "appear" to be bargains, I continue to balance the pro's and con's of this sector. I can take either side of the debate. Especially on this thread, if you express a negative view, you are often dismissed as a nay-sayer. I believe that approach is wrong and unfair to "newcomers" who haven't followed this sector as carefully as some of us. I pay attention when someone from the ME says there might be $6 oil prices! While I'm not convinced at this time that we are headed to $6 oil, I factor in the possibility. This is the best way for me to manage my risk tolerance factors. Unlike some unfortunate people, I don't invest money I can't afford to lose. The key is I attempt to stay on top of the many issues surrounding my investments and I am always looking for more data to confirm or refute my position. I also believe that we are, most likely, in the last leg down in the oil bear market. The key is where is the bottom? If $6 oil is the bottom, we will see more disasters in this sector then anyone here has ever expressed as possible. If we are in the process of bottoming, then many of these companies are going to be terrific investments in the not too distant future. Each must make their own decisions.... respectfully, Michael