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: victorw who wrote (52365)	10/4/1999 2:43:00 PM
From: double-plus-good	Read Replies (1) of 95453

Victor, PN is being played for the secondary offering. Smart action IMO, witness HOFF and PGO as previous examples of what might happen when the shares hit the street. You can also see that the pump might not last. Still, I'm looking at rebuilding my HOFF position today. Have limits out on BNO, GLBL, CRK and some APC calls. The charts on the OSX stocks look like damaged goods. I'm trying to stay with my philosophy of prices discounted to fundamentals and special situations. I look for the bleeding to continue near-term with a perhaps very sound and climactic thrashing to finish it off. Put on your hard-hats, we may be looking at 67-68 osx. I like to wear my buying boots with my hard-hat. CAM and WFT are looking very tempting. SII has been hit hard; always nice to trade when the motion is right. PGO has filled the gap it left on the chart and is another I'd like to get back into. I foolishly sold half my position before the big ramp on fears of Gary's evil e-waves. i hope we can keep the negativity to a minimum here. we all have the same goals, and i have appreciated the insights of many here who seem to enjoy hissing contests. one observation that i am maintaining discipline with is the story for EnP stocks. osx recovery may be delayed but the bottomline boost for the producers was yesterday today and tomorrow. don't forget that smart hedges by savvy players will see them rolling in dough well into the year 2000. the excuse of the market selling off these stocks on fears of a collapse in energy prices is a pretty lame one. down for the day, but still reading north of 24 last i checked. looks like some brain-dead folks at the controls. ++good

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