Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (42756)	4/20/1999 2:21:00 PM
From: Gary Burton	Respond to of 95453

Slider--I'm with you--AFTER we put in a little double top in here near 78. If API numbers tonight are poor, I may have to trade in my EW badge (vbg)...Sold PTEN at 6.94 this pm as it has traced out 5 waves up-wave 5 could go somewhat higher but I'm not going to quibble now on this one ---re WTI..as i see it, crude is now very close to completing 5 waves up from the mid-10 low. I think we are just about at the end of wave 5 in here...suggesting a correction back to say 16ish is in the cards. Probably am being one of those 'pigs' in here trying to squeeze the last drop of this particular rally but until I see 5 waves up on the stocks I own, I am still holding for the moment, maybe at my peril. soon see.

To: SliderOnTheBlack who wrote (42756)	4/20/1999 2:24:00 PM
From: still learning	Read Replies (2) \| Respond to of 95453

Don't think crude needs to keep going up at this rate. Ifwe see good compliance and a small continued escalation of prices into mid 18s or even 19s we may see a second runup. Even treading water at 18 could do it. You're probably right, we're due for a fallback in crude, but I wouldn't want to bet on it too heavily. Dead zone could be trouble. On another matter, what's with UFAB -- good news no movement. a $20 m contract is no small thing to a company their size. Don't get it. Dose this mean you're actually buying UFAB slider, or are you still waiting for the golden dip?

To: SliderOnTheBlack who wrote (42756)	4/20/1999 2:50:00 PM
From: IndioBlues	Respond to of 95453

good advice Slider... I've been taking profits today and yesterday and feeling pretty good about it. I used a chunk of my profits on FLC to snatch up some June 10 calls at a buck. MRO continues to languish a little. Wonder why.

To: SliderOnTheBlack who wrote (42756)	4/20/1999 3:02:00 PM
From: luq yacub	Respond to of 95453

Slider: you bring some excellant points to TRADE the stocks.You can never underestimate the chance to take profit in this market.In investing each got his own style and what is good for the goose may not be good for the gander.In really does not matter whether oil goes to $ 18 or to $ 21. The long term trend is up and with this mind everybody should play accordingly.I dont have a dime in stocks but i am a producer and the future looks bright for gas. Several gas producers are being bought out by utility companies in the Midwest, and many are going to convert their coalburning power plants to gas in the future. Wish you all best of luck in the market

To: SliderOnTheBlack who wrote (42756)	4/20/1999 3:14:00 PM
From: marc chatman	Respond to of 95453

<<Where have all the posters gone ?>> To the golf course. I can't stare at a computer screen all day. <g>

To: SliderOnTheBlack who wrote (42756)	4/20/1999 4:09:00 PM
From: BigBull	Read Replies (8) \| Respond to of 95453

What a difference a few hours make. quote.yahoo.com Didn't somebody on this thread go on record as saying that there would be a substantial correction post OPEC? Did it happen? Nope! I find it interesting that I am singled out as the ultimate contrary indicator for remaining bullish though the small dips in what is clearly a new secular bull market in the oil services sector. Moreover, all the bulls that are throwing in the towel, selling, and selling short, waiting for the market to hand them gifts are not considered a contrary indicator. To me, all the top calling and selling out and waiting in cash for the next 20% dip are nothing but more bricks in the wall of worry. Most of this money will probably be forced back in at higher prices when the rally continues after a very brief selloff and it realizes hey this really is a bull market, and not just another trading range. Some of us have also, "been here and done this" in the os sector, and not lost money but made money. The lessons we learned are not the same as someone who got their brains beat in riding the sector down. Some of us are not compelled to do revenge trading against "The Street". The lessons we learned are "Let your profits run". Some folk may find it interesting to read Jack Schwagers books on "Market Wizards" wherein he documents the careers of the the top traders who got to the top and Stayed there. To a man they all say that it was being disciplined enough to get in the big moves and stay in them that made the difference in their careers. The trading wound up being statistical noise over time.