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

To: Brian P. who wrote (40952)	3/26/1999 10:49:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Brain P; agreed - no need to become a trader - just if on the fence - and if you've done some trading; looks to be a prudent time to do it. For active traders who have been here all through this year long WWIII in the Oilpatch - then it doesn't get any better than this ! from a yahoo link: << In a recent research note, Simmons & Co analyst Dan Pickering said the current rally was the fourth in the last six months to be triggered by a firming of oil prices. The previous rallies brought average gains of over 50 percent but were followed by sharp retreats in less than a month.>> ....now think about this; this is the 4th, or 5th rally of 50% in some stocks in the last 6 months ! - If playing the rolling trading ranges ( and doing rotation -ala~ E&P's from OSX etc.- or to laggards ) ever gets any better than this - let me know.... Sure - if the present Crude prices stick and it looks that with any degree of OPEC compliance they will; we WILL see improved Rig utilization, dayrates and equipment/service cap ex spending increases. We could possibly ride to even OSX 100 by next late fall without anything more than an occassional small bump in the road - ''if'' everything continues... BUT ! - why try to ''fix it - if it aint broke'' ? as in - if playing the trading ranges is working - PLAY 'EM ! take profits and play the trading ranges UNTILL the Street signals that this game is over ! The worst thing that can happen is that you will actually have profits in the bank and perhaps a more diversified portfolio with some E&P's, some Oil Majors, or Intergrateds (which I love) and some laggards .... ? Seriously speaking; does anyone else here - that has been exclusively following the patch for the last year (6 months at least) honestly feel that sometimes they get into a ''groove'' where they are allmost ''unconscious'' and literally have the ''pulse'' of the Street and can and do trade ahead of the Streets moves; literally as if the Street is in slow motion and it's as if taking candy from a baby ? I do NOT feel this way all the time - not even close. But, occassionally, one gets into a series of events and trading moves where you are hitting every single action & reaction in advance....errie - but sometimes you have to trust the gut and run with it...??? - this is not an arrogant statement - just a psychological oriented question to active traders - trust the gut ? go with the flow ? - seems to work for me.... when the ''feeling'' leaves - I sell and take profits... any athletes can perhaps relate - in Basketball ever hit 5 in a row ? - don't you want the ball ? Baseball - 3-0 count, but you're on a streak - why take a pitch - if it's down the gut - go for the fences ? ...back to my hole...<VBG>.