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

To: shust who wrote (42480)	4/17/1999 11:35:00 AM
From: Fitz	Respond to of 95453

Shust <<I just can't believe the amount of people who can't hold onto stocks for more than a week. Days for that matter. I'll bet that there are about 75% of people on this thread whose portfolios completely change within 1 year>> I have been trading in and out of RIG, CAM, GLBL, PGO, FLC, VTS and (CLB as of late) since the first of the year. As of yesterday, I closed all my OS positions. I just felt that the OSX had gone to far to fast. This strategy has increased my CASH balance 38% since the first of January. Don't get me wrong here, I still feel there is a lot of room to go up yet and will be buying on dips and selling into these moves. I agree with Slider's trading strategy. Why hold a stock that's up 20% just to see it fall back and lose your profit when you can sell it and buy it back in a day or two at the same price you paid earlier. It works for me and I sure have a GREAT feeling this weekend sitting on CASH waiting for the next dip. Oh, by the way this is the best thread on SI. I have learned a great deal from all who post here. Also a special thanks to Gary Burton. Gary I find your EW analogy fascinating. I can't believe how accurate your predictions have been. PLEASE keep up the great work. Regards, Fitz

To: shust who wrote (42480)	4/17/1999 11:54:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

shust; you really make a good point - ...I allways like your comments. Your info on SLB & HAL hiring in the fall drives home my view that it indeed is a ''when'' and not an ''if'' question of the Oilpatch making a dramatic recovery. However, the $64 question remains - how will the Market price both the ''timeframe'' and the actual fundamentals, or lack there of ...? In a way, your comments supports my view. << For the long term investor who has hung on we will be looking back at this downturn as a blessing. Holding long. I just can't believe the amount of people who can't hold onto stocks for more than a week. Days for that matter. I'll bet that there are about 75% of people on this thread whose portfolios completely change within 1 year.>> shust, I am not supporting any ''daytrading'' type of trading here. Buying into any of the bottoms of the last 6 cycles will be substantially profitable for all who did, longterm. But, in reality; in a market that has returned 30% year, after year of late by merely being in index funds; how can anyone justify 1 year+ of ''zero'' return in the Oilpatch ? Because if you bought and held - that is exactly what you would have gotten during the last 18 months ! - unless you took some profits/sold. I am only trying to point out what is working for me after learning the hard way - what didn't work. ''Position Trading'' - by taking at least some profits (no reason to close out entire positions) at the clearly defineable and predictable tops of these ranges of late and the re-buying on any of the 6 retracements in 8 months has been not only profitable, but incredibly so... it is NOT daytrading; it is position trading and has not been that difficult to do. For those who do not have the ability to sit and watch the screen during market hours; the use of limit buy and sell orders is a great technique. I often do not have access to data all during the day. 1/2 of all of my purchases are caught on limit orders; of late - many of my sells are limit sell orders that get triggered as well. I have planned my trades and tried to trade my plan (thanks Big) - and it is working in spades for me fwiw...I am not a professional trader - far from it. Today's tools and research somewhat level the field for the little guy. Trading is no longer a dirty word and indeed is an effective technique for the individual investor when used prudently. In all respect; perhaps the door to ''trading'' needs to be opened a little wider here in the Oilpatch and not viewed as a Sinfull practice, or impossible technique to master .... (i'm not saying this is your stance - just that this impression exists by many)... Larry C; - your comments do hold the ''key'' to this being a new step forward and a ''real'' breakout. That key is ''if'' this massive sector rotation is real and if it will stick. I temper my enthusiam here, as more than one influential pundit has said - nope. Hope they are wrong - as I have no problem riding the E&P train right along side eveyone here - and I still do have a few OSX stocks (vbg)...

To: shust who wrote (42480)	4/17/1999 12:00:00 PM
From: Aggie	Read Replies (1) \| Respond to of 95453

shust, good morning, So....Halliburton's just finishing up with their latest bloody round of layoffs, Daddy's out of work just in time for the kids to be out of school, but the good news is he'll be hired back in September. Is this some new kind of twisted HR ploy ("our company is proud to offer our employees new opportunities to spend quality time with their families: Flexployment!")? "Just in Time" management concepts work pretty well when you're in an industrial setting which has broad, shallow cycles, like the automobile business, but it ain't worth a flip in this business and I wish I had a bullet for every mush-mouth management-consulting huckster who peddled it to a senior manager from an oil company. Well......I guess I've vented enough spleen for one day. Let's hope this rally is sustainable, and continues. In the mean time, I'm one of the long-term investors in sector and intend to stay that way. Good luck, Aggie