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: Meridian who wrote (52208)	9/30/1999 4:00:00 PM
From: SliderOnTheBlack	Read Replies (3) of 95453

BGambler:<should buy OSX in 6 months and E&P guys now> ...yup; the only exception was the price levels we saw on this weeks blow off - GLBL, MDR, and most drillers were solid BUYS at those levels - 20% off was worth waiting for the actual fundamentals to turn... 3 interesting stories in individual companies here. PXD: 800K + big block sells off; taking the stock down strongly to $9 3/8ths - now $10 5/8ths (was 10 3/4) !; now we have big block buyers stepping in and the stock is up over a $1 1/4 (15%) off the intra day bottom. PXD is a super conservative value play here... What was interesting is that these guys waited untill this seller either bled his stock out, or dumped it in a block; then they were willing to step in with 10-20K buys a $1 higher... a good sign & they evidently knew a seller was wanting out of a large position. EEX: big block dumped today - I just know; that a couple of major EEX buyers are just waiting to see a bottom on volume... and then we get the 10-25K buys come in.... $3 is a 20%-30 chip shot Cricket - you listening.... RRC: This stock is teaching us a lesson perhaps. If Institutions wait to see the JV "actually" close before loading up; it endoreses a concept that I am allready sold on. That being that these nimrods; even when they are 99% sure something is going to happen; are so throttled by their prudence & sometimes parental Fund oversight; that they will pass 10-15% easy money; and wait untill its a publically announced deal; then step in to buy at $5 + nearly 10- 20% higher than they could have bought earlier... Got EEX (VBG) ? RRC hit $5 - but did you guys see the closing bid:ask - about 1100 ask to 11 buy !?!?!

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