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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 (39877)	3/14/1999 11:38:00 AM
From: gmccon	Respond to of 95453

The problem with these investor threads is that they are filled with traders. For those of us interested in the longer term, we waste reading time by following the day-to-day hype. Pick a bottom (or do as best you can) in a good company, like a driller or a "farmer" (CAT, NH, DE, etc.) where you know there will be a bounce when Asia improves, then buy it and hold it for the 12 month tax break, at least. Watch for triple and quadruple bottoms and play them for the longer term. If you catch a good company on the 2nd of 4 bottoms, for example, during a 12 month period, so what. "It shall rise again". The price of oil and tractors simply will not remain in the tank on Planet Earth. Its all cyclical. Look at Disk Drives. There will soon be a double or triple bottom there. Ask yourself where they will be in 12 months. QNTM, for example is a 12 month double today. However, if you wanted to, you could have passed up on the tax break and sold it for a 4-bag along the way. Look at the chart: investor.msn.com The point is, it is still a double, at least. Where do you think DO or RDC, for example, will be in 12 months? Why torture yourself? Buy and hold and sleep at night. If in the meantime it doubles or 4-bags along the way and you want to take profits before tax break considerations, fine. If you hold and it bottoms yet again somewhere along the line, who cares, go back to sleep and forget about it and wait for the tax break.