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: Sharp_End_Of_Drill who wrote (74869)	9/27/2000 4:59:09 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

o/t Not-so sharp (VBG).... re: GLBL & PGO ... sharpie; remember the old adage about the old bull & the young bull standing atop the hill ? ... The comparison chart was not for YTD - I couldn't "chop" the chart for just the March to June timeframes; you missed my point; all cyclicals are traders; GLBL & PGO have had lots of volaitlity; my point is sell & take profits during those blow-off top spikes & outperform periods - as GLBL primarially has had many times over the OSX during this cycle - the huge run thru $18+ of late greatly outperformed the OSX & most other hi-flying OSX leaders as well. The time to buy a "GLBL" is now - the technically mandated if not telegraphed tax loss selling by Institutions here is one of the absolute "no-brainer/freebie trades" the Oilpatch has given us of late. PGO - has allways been a patient add on weakness play ($14-$16) and hold patiently and confidently for its later cycle upside, or the back & fill ramp that it makes on the tail end of OSX run ups; as it did in its prior run thru the mid $20's. PGO has a "Euro" factor and it's management is "not" as concerned with kissing analysts asses as they quite frankly should be and they've got less than a sterling history guidance-wise; so we've allways had a discount(albeit deserved) to its "fair value" vs. the OSX of late... a great, great low-risk/high potential reward play here and one of the "must own" buy & hold later cycle Oilpatch plays. Again; not trying to tweek you too hard here; but "perennial dogs" - deserved an ankle bite (right Cosmo ?). Good Luck & bet your a$$ that the "Admiral" will outperform the OSX index - if not nearly any OSX component over the next 3-6 mos imho; it would be my top mid-lg cap Oilpatch pick at todays prices and I am putting my money where my mouth is as we speak - added a bit more today going into margin a bit fwiw - I'm willing to put a very, very significant pile of chips on this being very, very close - if not the bottom; with positioning my margin use for $8ish being the end of the world. Don't need to hype GLBL; it's impossible - as a poster on Yahoo correctly pegged it; it's become a proxy-trading stock for Oil Service. The shorts are piling on atop the openly known tax loss selling - nothing more, nothing less; perhaps they won't hit the numbers either - insignificant at these levels - GLBL is not going to fail to participate in the remaining expansion here in this cycle. All one has to do here is pick up the "candy" that the Funds had to leave; as technically - GLBL "HAD" to be massively tax loss sold here - a true "no-brainer/freebie" at this point in the cycle - bank on it. Competitor HOFF upgraded today - FYI; two differing Managment tatics/philosophies - once again; best exemplified by the Old Bull vs. the Young Bull adage... HOFF bid cheap, took low margins to "buy" - get the "early" work - GLBL didn't give away the margins and is now better positioned to get the better margin work as the cap ex dollars really start hitting in the late 2nd half here. Dore let HOFF & others get filled on the low margin/very competitively bid, early work - give me the bigger, higher margin contracts coming down the pike here now that Dore & GLBL patiently positioned themselves for - my money is very comfortably on the Admiral here. Ciao ~

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