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: marc chatman who wrote (30874)	10/19/1998 1:04:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

RIG & WFT may have their best buying opps on an Earnings selloff... Given the recent move. I would think many tax loss sellers (many funds) would look at the earnings release as the ''peak opportune'' time to sell into strength for a tax loss sale... I think RIG under $28 is a screaming buy & WFT @ $19... RIG just totally surprises me - it is an absolute bargain; pleeeeze; one more chance @ $25 ....<VBG> ! I would expect some tax loss selling into this rally and off any earnings announcements, but tend to think that we will only retrace 1/2 of this recent pop. Use tight stops here... I ''aint'' giving up my hard fought gains any mo ! Again the stocks who get decimated in those 1-2 day blowoffs are the buys at ''that'' time - ie: GLBL & VRC of late. The laggards are the play here imho. There has to be some positive crude oil news out there somewhere ! - Hopefully OPEC will keep on holding - I think their next numbers will be positive - primarilly due to the lag in reporting timewise. I just hope they stick to the cuts or deeper and that the OPEC numbers in Jan & Feb are positive because this will be where we (OSX) either become contenders or pretenders ! Anyone hearing anything on HLX - I expected a run up pre-earnings release ? A Good value play here; they get priced like a ''Boat'' stock but, have a super Fab business - I like those types of scenarios. Their Insider buying has been a good sign in the past - saw good buys in Aug- mid quarter; which tells me they like how the quarter was playing out. I expect a nice day for HLX on their release. - but who knows how many tax sellers laying in wait ? Anyone have a brief synopsis as to why crude has moved downward here ? The #'s don't seem to be indicative of this present price & trend ? It looks like heavy trader/shorting to me ?

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