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

To: Platter who wrote (39766)	3/12/1999 11:43:00 AM
From: thomas hayden	Respond to of 95453

The reason why I'm holding. You are right it is too late to be buying, you will probably get another chance at lower prices, and you are right oil is overbought and could easily drift a buck, buck and a half lower. However, many of these companies such as VTS, FGI, RIG, TDW etc ... have said what we need is sustained higher prices, not a two week up move followed by a two week sell off. I believe, could be wrong, but I believe with these cuts it will help keep the price at least around the 14 dollar area, maybe as high as 16. I think we have reached a new trading range, whereas the old one might have been 12 to 14. In the VTS conference someone ask if prices shot up how long would it take to be reflected in earnings, the response was 6 months. I think you will begin to see continued buying in anticipation of earnings increasing 6 to 9 months from now. I recall last fall I bought a bunch of semi stocks, I got a nice pop, my charts said overbought, I sold, made 15 to 20 percent and missed a 100 to 150 percent move(the stocks were ATML, KLIC, KLAC, LSI, AMAT). I going to try, and I'm like you I'm tempted to take profits, I've witnessed the last 3 or 4 false rallies over the last 6 months, but I'm going to try not to trade out of them, because one of these days it will be the real deal and I don't want to be the one watching. It's hard to fault someone though for cashing in and going to the bank.