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To: Mike from La. who wrote (39529)	3/10/1999 7:39:00 PM
From: tdl4138	Respond to of 95453

Nice to see just about every stock closed at its high for the day... Even if these stocks encounter some profit taking, the general trend should continue to improve as the "fundamentals"ie, price of crude inches up. Don't forget the "buy and hold" theory...and remember it will be awhile before higher crude prices translates into real earnings. They didn't go into a depression overnight...and only strong earnings growth will sustain higher prices. What I'm waiting for are the analysts to start upgrading the stocks...along with their earning estimates. Those that "beat the street" will be the real winners...just like the old days.. Just my thoughts Dave

To: Mike from La. who wrote (39529)	3/10/1999 9:08:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

C'Mon now; one can still be a ''longtermer'' and a ''trader'' . When in "Rome'' - do as the Romans do... Actually - being a ''rotator'' may be the best of both worlds.... Call me a ''rotator'' ...<VBG>. The key here imho - is using ''stops.'' - Now way in the world I would give up more than say 7% in any stock that has moved up 25-30% here. I think you have to let these stocks retrace a bit - 7% does that, but continually move stops up behind major moves like we had today. Guys - you can NOT forget; Since Sept's total market blowoff we have had 4 run ups now of 20-40-50%. Untill 4-5 days ago - one could easilly be in the red, or flat here in a pure buy & hold strategy. There is nothing wrong with buying and holding - it is the time-proven strategy most effective, for most people, in most markets... But; this is not - ''most markets'' imho. Everyone needs to invest, or trade in a style/strategy that fits their risk/reward tolerance, personality type, their ability to monitor the market daily etc. For me - what has worked like a gem; is to buy headlong into the selloffs in ''selected'' companies at levels proven to be the prior bottoms (OSX 45-48ish) using 3-4 entries to average in and keep funds for new lows if seen. I also want to take profits as early as I arrive - I want to take the first 1/2 to 3/4's of a move. I take profits the same way I buy in - in 2-3 exits to allow maximizing a run - but yet not missing getting at least a piece of the action, if we get a quick reversal. Doing so of late has allowed me to take numerous profits of 15-20% during these 4 run up cycles; in addition to trading stocks like RIG & RON which had great trading ranges of low $20's to $30's over & over again. FGI from $10-12 of late etc... What is amazing; is that this run seems like it has to end - we have come so far - so fast... but I agree that we are still very cheap on a fundamental basis on so many stocks. Also look at where we were on just the initial Jan tax loss selling - ''pop'' - many of these stocks are not even close to those levels yet. GIFI and FGI for example were both in the $16-18 range during prior run ups - and we obviously didn't have crude prices where they are now, or the catalyst of a potential OPEC cut. So there is a long way to run for many, many stocks here - lots of room to run. While some stocks like CAM, or ATW do not look real cheap to me here - others like VTS FGI GIFI UFAB NOI OII have lots of upside left here potentially; and the best upside plays just may be the high debt/highly leveraged plays like the FLC's, the KEG's, the FEN's/RRC's, the HLX's , of the world - higher crude prices dismiss much of the risk here - these stocks were literally punished here - $15 -16 crude oil totally changes the financial picture of the E&P's as well. While we have great potential run ahead of us; it is still NOT a done deal. Personally; I don't want to have to sit at my desk some sunday morning, reviewing my portfolio and seeing that I was up 30-40-50% in some stocks, only to watch it return back to a quintuple bottom ... so I am taking my profits all the way up - but, simultaneously rotating into some laggards; especially E&P's and moving those stops right up behind my gains. good luck - what still looks cheap - or what looks to have room to run here - buy/watch list suggestions all ? PS - today the Oilpatch really returned to the forefront of the marketplace - if we get more positive OPEC news - BAMM ! - because the MO-Mo individual investors are NOT here yet - but they could be tomorrow & friday... Speaking of Friday - lots of news; good, or bad can come out on a weekend. I anticipate serious profit taking Friday - fwiw. I think many traders will NOT allow their profits to be exposed to political posturing, or potential bad news - tomorrow with a strong MO-Mo open may be the best opportunity to maximize gains for traders here...