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To: BigBull who wrote (42781)	4/20/1999 5:15:00 PM
From: Chas	Respond to of 95453

It is interesting to see the different trading styles exhibited by members of this thread. Having made my first OS investment in RIG in 1996 and additional purchases of other OS stocks in the summer of 97, I participated in the huge ride up in the fall of 97. When it moves, it really moves, up and down. I agree with BigBull about the present situation; we are in the initial stages of the bull market in energy stocks. We will have our ups and downs, but I think the trend is definitely up. Slider's posts are very interesting and he has evolved a trading technique that works for him. I have done some selling for profit over the past 6 months and rotated the money to laggards, with some success. However, it has not always worked out. When I sold SII with a big profit, the sucker kept on going without slowing down. The stocks I rotated into all are up, so it is a net wash (except for taxes. I plan to stay fully invested for the coming ride, with some occasional adjustments. PS: I heard again today that GIFI is building Petronius as we speak. Source: vendor. Also keep hearing about a purchase of GW...rumor, but people in the oilfield are buying GW shares because of it. FWIW. I am long both. Keep the informative posts coming. Good luck, Chas

To: BigBull who wrote (42781)	4/20/1999 5:19:00 PM
From: IndioBlues	Read Replies (1) \| Respond to of 95453

You are forgetting something critical BigBull... Buy and hold may minimize the tax and commission impact, and protect against missing the upside move, but not all of us have the capital to sit around waiting, watching and wondering when THE move will come. Trimming 40% or more in quick roundtrip is not only prudent it is essential for those of us building a base. Additionally, as yesterday and today proved to us -- the patch isn't the only place to find relative value. I don't think I could responsibly NOT consider liquidating some patch positions for healthy gains in order to take advantage of temporarily beaten down interRockets... (e.g, I sold FLC, CLB, RIG, APA for gains between 40% and %120) and took smallish positions in QCOM, ATHM, and LVLT. That seems to be working well based on today's close. You'll never hear me claim to be a rocket scientist -- it just seemed to make sense. Take what the market gives you. Finally, even if as Michael says we are entering a sustained upward trend that is a trend that traders can play too. Anyway, good luck to you. I don't write this in an effort to convice myself that my strategy is the best strategy or persuade you that your's is wrong. Each of us has to do our own balancing of risk and reward in light of our resources. There is no one