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: ChanceIs who wrote (59365)	1/28/2000 4:39:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

UPR 20% cheaper today than Oct-Nov '98 with $10 crude... One reason I have allways loved UPR; is in my opinion - this is a "non energy specialty" fund fav'. By that - I mean it's a name that many non energy speciality managers often add during rotation to the Oilpatch. I have noticed it allways has money leave quickly and also flow in quickly on sector rotation - very volatile. At the peak of Crude Oil & the Oilpatch's bottom - Sept to Dec of 1998 - when $5 crude oil was looked at as a real possibility; UPR traded from $8 to $14 and back down to $8 - then in 1999 up to $18. chart.yahoo.com If you catch UPR at a bottom on margin - these 50% "Waves" in UPR become "doubles". I see $10 3/4 to $16.25 in the next 90 days - for a margined double - bank on it. The question to margin UPR is - does this look like a bottom ? Well, we shall see... Same price as the spring of '99 pre-rally; cheaper than Oct '98 with $10 crude; and greatly reduced debt levels here and lots of free cash flow. If you're going to take on some risk and call a bottom - this looks like a good spot imho. XTO - is now my largest holding - added today; love this one - Co announces increased production news & this is at 2 x cfps here ? - unbelieveable. They could earn $1.30 this year and be a less than 6-7 x EARNINGS here - that multiple being the high end of the "cash flow" multiple - insane ! There has to be some rotation coming - has to be. If OPEC extends cuts - TOO THE MOON ALICE ~

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