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: Harold S. who wrote (47229)	7/1/1999 11:04:00 PM
From: Braddock Bull	Read Replies (3) of 95453

Frustrating to say the least isn't it? Simply put, I think there's better action elsewhere. The Street is focused on all the great earnings from the big caps and techs which are about to come out now for Q2. Our sector's earnings are still pretty dismal. Everyone knows there's a recovery in the works, fundamentals are improving every day little by little, but it's just not going to happen as quickly as we all hope for the drillers. I think there's a general perception that Q3 is going to be a dog as well. You get comments like we had from RIG, layoffs at Baker and Smith in the face of $19+ crude, etc, and it really can throw a wet blanket on things. That was such a slap in the face! So we're talking Q4 and next year, and honestly I think these days the pros look at that as a long wait. It's said stocks move 6 months before their earnings. I know that's what we all want to believe. I just think that as long as there is this much mo mo in the techs and the big names, that's where the bucks are going and there's just nothing we can do but bide our time and not watch the tape. Brad

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