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: in_outdaily who wrote (52401)	10/5/1999 9:24:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

EEX now up 25% from low & +15% from $3 Buy call. +100K vol reversal EEX reversing nicely on strong volume of +100K over avg volume. Now up 25% from its low and +15% from $3 where it was free money... Simply a classic - over capitulation on bad news; and - "EEX" was one of the few Oilpatch companies where tax "loss" selling would be - was/is a factor. Just icing on the buyside imo... Not a bad little trading vehicle into this Oilpatch slide... Like it short term for a move through $4 - $4.25ish. Worth keeping a few shares longterm - have a couple of "company maker" GOM drilling prospects left in the portfolio. Anyone remember me speaking about KMG & MRO a while back ? KMG teamed with OEI hitting some nice GOM offshore finds... MRO is a conservative large cap BUY here and into all weakness... OEI is still very, very, very cheap right here - a must own... and allready on record for easily surpassing Q3 estimates. Stold SGO in the merger. A Fav' of Peter Lynch & Slider.... what more does anyone need to know (VBG) ? CRK drifting back near $4 - may be worth a re-entry here shortly and buy heavilly on a break under $4. I'm waiting on a break sub $4. Hurt by poor hedging of late - like a few others; undervalued here; an $8 stock by mid 2000. bill - good call on MDR; When you have such supportive technical indicators on a historic basis - "AND" have a tremendously undervalued company from literally - EVERY valuation metric - don't hesitate imho... a sure "winner" here... fwiw: a break into the $18's & I am a "huge" call buyer . Anyone who just wants some "easy" 30-50% gains; but is patient and willing to hold; as you will not be able to unload volumes of stock - MEXP is a gift here. Surely worth the risk. Not enough volume to build a huge position here; but nothing wrong with a couple of 1000 shares at a 30-50% gimmie over time... Nothing has changed in the "story". Realize the ultimate risk is merely a temporary blow off to mid $1's on no refi news - but, thats unlikely here;even so - it will recover over time and the refi is going to happen - worst case is post year end 1999 - in early 2000. $3 surely on the refi and a slow move to $4, $5, $6 over time. MEXP is still a great little money in the bank play; if its volume/liquidity limitations are kept in perspective. JQP - what's up w/ TMR ? At $4 and even "I" will become a believer...(VBG). Actually most of the small/mid cap "Gas" plays are weak here; coming off the Sept. shoulder month. Everyone is waffling on E&P's here on the peak of the fill of storage season. Wait untill Winter demand starts drawing down supplies and lets see what continued API's showing 1-2-3 M boe weekly drawdowns does to the entire sector... a solid break under 300 M boe, or 2-3 weeks in a row of 2-3 M boe drawdowns and we reverse strongly. This is a gift horse buying opp for E&P's pre-Q3 reporting into any & all weakness - pick your poinies in E&P land right here ! I wish we'd just have a 10% - 2 day blow off right here on heavy volume... that would be a Xmas in October... Nibbled on some HLX --- $5 7/16ths fwiw... hmmmm ? is it twue ? Do those good 'ole boys actually be makin "mo money" if FGI waffles a bit here... ? ... and we wonder why ???

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