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: SargeK who wrote (55339)	11/24/1999 10:10:00 AM
From: SargeK	Read Replies (1) of 95453

The fabricators and builders Posted on YAHOO by yours truly: post.messages.yahoo.com “Ralph by: SargeK 11/24/1999 9:56 am EST Msg: 289 of 289 I appreciate your concerns. This sector (FGH,UFAB and GIFI are good examples) is like a coiled spring, the more it is compressed, the more energy is likely be released when the orders start pouring in (which is anticipated to start within 2 or 3 months). An appropriate analogy is the price of crude itself. Almost a year ago there was nothing but widespread negative hype in the media and on these message boards. I correctly predicted, at the time, that world economies were turning positive, that the exporting nations would cut production and that crude would soar in 1999. For all the reasons you mention (plus tax selling) this sector has been under pressure not unlike that of crude a year ago. I am not suggesting, I am stating: This sector will skyrocket next year and because of the relatively small FLOAT in these issues the EXPLOSION (when it arrives) may easily surpass (on a percentage basis)the price increases of crude). I am not a market timer. I am a Value Investor who does some trading. The time for further averaging and BUYING is NOW. I will likely (over the next few sessions) reduce my holdings in NE and RIG to further accumulate shares in this segment of the industry while the price is bargain basement. It would not surprise (because of tax selling) that prices may go lower; but, I don't know that. When these companies (within a year) are selling at multiples of todays prices, I really wont give a s..t what single digit I bought them at. FWIW SargeK” P.S. It is worth noting that drilling rigs,semisubmersibles, etc can be contracted in a nanosecond compared to the lead time required to build one. FWIW

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