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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Scott Shumaker who wrote (5784)12/20/1997 11:41:00 PM
From: chirodoc   of 95453
 
Pessimism pervails in the oil patch.......

<<<<<. In other words, who's big enough to counter this kind of downward pressure, how long will it take for the market to absorb this volume being unloaded, and who's going to drive it back up?

.....earnings that what will counter the selling. when the multinational companies and high techs show earnings slowdowns you will see people looking for somewhere to put their money--the drillers will be one of the safe havens in this market. watch--if the big drillers meet or exceed profit expectations, you will see people rush to buy in again.

.....you are dead wrong about japan.

<<<<<<<< Their best sectors still got clobbered, and haven't recovered yet.

.......look at industry leaders like honda, sony, fuji, etc. in spite of the huge bear market, they have done quite well. when the bull returns watch for those stocks to be rockets. why are they doing so well? one word--consistent earnings! same as the drillers!
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