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: paul feldman who wrote (90245)	4/19/2001 10:46:18 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

Bought back some PDE here.... There's my "virgin" thrown to the Volcano - that ought to appease the Chihuahua Market Gods for a while (VBG). I'm sitting for the $19/20's now in PDE... I think it will be THE outperformer on a % basis "if" the legs remain in this expansion cycle... around 7 x next years eps here. RIG my other fav on a pullback here... lots of rigs, lots of peak cycle earnings capacity, lots... & ATW with their move to take 2 rigs out to refurb & upgrade is levering themselves for a very strong 2002 upside if their timing is right... it's my #3 late cycle play on weakness. Wouldn't mind getting CAM back in the high $40's; RIG $40-42, ATW high $30's... just nibbling - scanning for "calls" etc. The Big-3 OS Institutional Fav's - HAL BHI & SLB are very, very, very weak for those who are still walking the "10 Ft Tall & Bulletproff" party-line....there's a message there - that's where the LT Institutional Money is parked; the drillers & smaller names tend to have the hot margin money/traders more actively involved. When the triumverate of SLB HAL & BHI - "ALL" show significant weakness - you'd better take heed imo. Fwiw; I can accept the "10 Ft Tall" concept - as the frontline activity is... but; the minute we start thinking we're "Bulletproof" at this juncture of the cycle... that's a recepie for disaster & Deja Vu -all over again rollover. You must acknowledge that the frontline activity was ALSO - "10 Ft Tall" in the spring/summer of 1998 when the stocks COLLAPSED. As the cycle matures imho - you MUST take a "show me" and a "shoot first (read take profits) first & ask questions later" stance to trading here... have to. PS: for you E&P'rs .... how about GRL ? Interesting chart technicals - looks like the bottom of a trading channel here - ready to turn for an $8 - $10 trade at least ? Maybe for a "trade" - just to show I can (VBG) - but, E&P's ? ....Uggg; they're so "passe" (roflmao)... Forbes had an article on shorting Home Builder Lennar here... I'm trolling for watch/list short idea's if this rally sustains itself into still declining economic reality... any idea's anyone ? Gold stocks refusing to pullback of late... tic - toc; when, not if & how much have ya got ? ... and don't forget to add "some" silver ~

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