Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Erwin who wrote (6033)	12/23/1997 5:40:00 PM
From: Redman	of 95453

The more downgrades, the better for this sector. It means we are getting very very close to a bottom. Everybody is starting to give up, including me. I will again start averaging down in GIFI and MAVK. PS: Morgan Stanley conference call is very upbeat. All the fundamental are in place for a fact, short term influences have caused this oversold position. Service companies running at full capacity and will actually be a hindrance on oil companies revenue because of a shortage of equipment. Also, cannot get new equipment online quick enough. green

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