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: marc chatman who wrote (52632)	10/8/1999 10:28:00 AM
From: Think4Yourself	Read Replies (4) of 95453

Don't think we will take anywhere near as long to recover this time. Anyone paying attention knew months ago that the drillers and OS companies wouldn't do well this quarter. That should have tempered the run up and lengthened the time for the rise. This time the drop is not supported by the fundamentals as there is really no new bad news. It is for the most part an emotional fear/panic. In addition earnings for the EnP's should be much better than expected and winter is right around the corner. I have been surprised to read on Yahoo boards that folks have been dumping the small EnP's now to buy the big drillers, O/S companies, and EnP's. Small EnP's who are highly leveraged should report the best earnings due to that leverage. IMHO these people are doing the exact opposite of what they should be doing. Maybe they figure those funds will jump back in when the bad earnings are actually reported. This is creating an incredible buying opp for those who have done their homework. Some folks have, because I am seeing little or no drop in certain small EnP's in spite of the rest of the sector's drop.

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