Conceptualizing adolescent drinking and delinquency as adaptations to strain, we explore whether they (a) decrease or increase the probability of feeling depression and anxiety later and (b) ameliorate or aggravate the effect of strain on the negative emotions over time. These relationships are also examined for gender differences by analyzing data separately for males and females as well as both combined. We conducted ordinary least squares regression analysis of panel data from the first two waves of the National Longitudinal Study of Adolescent to Adult Health. Heavy drinking and serious delinquency were found to increase the probability of feeling depression and anxiety later, whereas they tend to ameliorate the emotionally deleterious effect of strain for males and, to a lesser extent, females.