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Gold/Mining/Energy : PDS (Precision Drilling Corp) - Time to Jump In!!!!
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To: Neil Thomas who wrote (7)7/23/1999 3:01:00 PM
From: Fun-da-Mental#1  Read Replies (1) of 14
 
Yes, I agree there's more upside. In fact I expect them to top their previous highs, because:

1) natural gas price is good and expected to go higher, and so much of PD's business is gas drilling

2) PD is not just a cyclical stock. It has a good long-term growth record.

3) Many sources say there is a long-term need for a lot more drilling to replace declining reserves

Do you follow the "strictly drilling and oil-field services" thread? The opinions above are common currency there.

However there is the question of the time frame. Energy stocks went up fast a few months ago and have been flat since then despite improving earnings. The next leg up may any time between now and the end of the year, or even later if there is a general stock market crash, which is not something to be complacent about. The P/E of the Dow was 27 last time I checked.

Fun-da-Mental
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