High Tolerance Plasticity Message Board

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Politics : High Tolerance Plasticity

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To: jim_p who wrote (8593)	9/25/2001 3:24:19 PM
From: MetalTrader	Read Replies (1) of 23153

jim, I sorta agree with you, but standing in front of a mack truck generally just makes you a speed bump. OSX contract drillers are selling at very very low valuations. If one looks behind the momentum, supply/demand dynamics and global gdp (yes I know, it's a lot to look behind) the valuations on a NAV basis are at low trough levels. Generally speaking contract drillers base down at about 1x asset value. DO and RIG for example are now below 0.90x NAV. I am not sure I will be buying here.. that could change anytime, but I'd sure be keeping some funds around for the first whiff of an upward revision in global gdp. Since I don't expect to hear that anytime soon, I'll be keeping an eye open for multimonth base patterns. mt

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