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: chowder who wrote (74036)	9/21/2000 10:36:18 AM
From: SliderOnTheBlack	Read Replies (4) of 95453

This shakeout/correction was "NOT" difficult to anticipate... #1 - the "SI Strictly Drilling thread - Sentiment Meter" - was at a classic "sell/trim - & take profits" reading; talk of a new paradigm, acting like these are growth stocks & not cyclicals, lots & lots of new faces (a sure sign).... if you watch only one indicator; this has been nearly infalliable - seriously, nearly a perfect indicator. - this looked like a great time to trim, take some profits - raise cash; take a vacation and be patient... #2 - we made a strong 30+ point run in the OSX; if you're not looking to be trimming into strength & setting some cash aside and rotating to laggards on 30 point sector moves; shame, shame, on you... #3 - $38 Oil & $5 Nat Gas !?!?!? - re: profit taking; if not here, when ? (for the Hymowicz's of the world - who are NOT fulltime energy specialists) - anyone who did not see the shakeout of "these" investors coming; should use a full service broker.... and re-visit Sept 1999 in the E&P's when the sector was sold for currency to fuel the tech rally. #4 - the overall market risk & sentiment; this is STILL the cap to the OSX realizing it's full ultimate potential of OSX 200ish in 2001-2002. Another 5-10% retrace & we are at OSX 115-118ish; that looks to be strong, strong support imho. Only a market wide implosion will keep the OSX from being strongly bought at those levels. Some individual stocks are allready at those levels... ATW PKD MAVK NSS FGH MDR GLBL PGO SCSWF/SCSAY look pretty reasonable to start entering here - DO & RDC on another 7-10% become great buys as well & the drillers will "still" ramp dayrates/earnings & rig utilization into a crude oil correction. Nibbling here - waiting for another bite at OSX 115-118ish; and I've really got the crosshairs on XAU sub 45ish for Mr. Leverage to come ridin' back into town.... PS - anyone got Ted Nugent's new book ? God, Guns & Rock n Roll ? .... gotta love that combo... JQP - you're a Motor City MadMan aren't ya ? ... Cat Scratch Fever~ Ciao ~

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