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

To: SliderOnTheBlack who wrote (40743)	3/24/1999 11:47:00 AM
From: SliderOnTheBlack	Respond to of 95453

Great Interview Link - nothing like beating the crowd to the party ! stockhouse.com Fadel Gheit's Oilpatch portfolio was up 20% plus versus an avg minus 7% for his peers. He's pounding the table on some E&Ps here - gee; what a novel idea ! Hey; Papaya - start actually reading our posts from 1999 - not June 1998 and maybe you too can make some $ ...lets see Fadel likes Nat Gas stocks hmmm; likes MRO - KMG gee; heard those names before anywhere ??? Yes; Papaya King - how do we do it without you and Theanot leading us by the nose.... ROFLMAO ! ...''50/50 shot at best for a bottom ?'' - well all I can say is I hope your money is not where your mouth is . PS - on your 50/50 bottom; We are now nearly 30% off of the bottom and WE take profits - so let us know when it's safe; lets us know when that bottom is in, lets us know when we should buy, let us know when it's safe to climb out of those "intellectually inbred, Gloom & Doom Bear Caves''.... - ( Sorry; pappy, but we'll have taken profits 3 times before you 'ole Timers even pull the trigger<VBG>.) You know Papaya; it is NOT that I think highly of myself, or that I am the worlds greatest trader, or Oilpatch expert. I don't think that at all - What I am however is an example. I am an example of what virtually ANYONE who persevers can do, of what anyone who is willing to learn, to research, to study and to improve can do. I couldn't tell a drill pipe from a baseball bat a year ago; I never read an article, nor owned an Oil stock before March 1998. I absolutely knew less about the Oilpatch than ANY MAN ALIVE last March 1998; but unlike you arrogant, pompous buffoons so called 'old Time experts; I did not sit on my ass and pontificate and do the intellectual circle jerk with a bunch of Gloom & Doomers. What I did do was I used the ''great equalizer'' - the Internet. I read everything I could get my hands on. I sent e-mails, I asked questions, I purchased stacks and stacks of analyst reports. I e-mailed questions to CEO's. analysts; reasearch houses, called them and read every damn bit of information on the Net about the Oilpatch. I did not stay in a July 1998 time warp and I did not quit. Sure I stumbled, hell - I actually by some standards may have even fell on my face; but unlike you - I got up. I dusted myself off. I wasn't blindly stubborn. I went to 100% cash on a few occassions from late June through August.Sure I lost money, but I had made a nice little return from the March to May run as well . So longterm - if it wasn't for the June-July Swoon; I would have never learned anything from this and I would have never made the Oilpatch my ''Great White Whale'' <VBG>. Funny how things work out sometimes. I learned to be fascinated by one of the most intriguing Industries that I ever came accross, with some of the most interesting companies that are influeced by World Events, commodities and basically represent the World's single most important substance - Oil. I studied; I became a trader - as that was what the market was giving us. They were not giving us a buy & hold enviroment; but they were giving us a well defined trading range. They were tipping their hand that they would NOT miss the ''real rally'' when it did happen; They showed us where they would value these stocks in a potential $10 Oil enviroment and they showed us where the bottom was - not once, not twice - but now 5 times ! It really wasn't all that damn hard. Sometimes it isn't failure itself that is the problem, but the inability to learn anything from either ones failures or ones success's ! Trust me; my humbling experiences in the beginning of my Oilpatch Quest has been the best thing that ever happend to me. It made me a profit taker, it allowed me to be a trader - when being a trader was the only way to make money; and it allowed me to keep throwing some very, very cheap shares of outstanding companies into the longterm hold drawer. It gave me a real-word masters degree from the Black Gold School of Hard Knocks... and I'll take that along with the price I had to pay for it anyday. So excuse me; if in July 1998, I averaged down a few times, called a couple of bottoms; Trust me on this; my Wallet, my Bank Account and my Portfolio have certainly forgot about it ! Yes; a mere small fry, little guy who works his ass off, who studies, who learns, who keeps an open mind; can not only flourish and prosper in the Oilpatch in downtimes - he can damn near get rich ! But this is not a sector or a business where the Johnny Come Latelys will ge rich- no; this is where the Carl Palmers of the World make money, the ones who can stare death, failure and bankruptcy in the eye and stick with it. The ones who can stay in the pocket when all around them are folding. They retrace, they don't exit. They fight - they don't quit. They regroup and prepare for the day when the rubber band snaps back in the other direction and they know that it ususally happens,; and that it is most rewarding just when all the Gloom & Doomers like yourself least expect it... So Papaya & Co.- all I can say is : This bottom is for you ! --- To the Bank and nuthin but 'Net ! ...PS; we are prepared for those retracements - we know they are inevitable; we trade 'em; we take profits ! ... and right about now - we're about ready to take some of your money - both the shorts and the Mo-Mo boys - so bring it on - we're ready ! ...and stick around and read - you "old time EXPERTS just might learn a thing or two.... Sorry, but if a little 'ole newbie like me can come in and in one damn year - do pretty damn well in the pits of Oilpatch hell - what does that make you 'ole time, arrogant, pompous, platitude spewing Mensa's ? ... how about jealous. <VBG>.