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: JGreg who wrote (1706)	9/27/1997 4:42:00 PM
From: Thean	of 95453

Greg, I have been on the sideline for 2 weeks now. I think we are still in the consolidation phase after the sharp run up and been putting my money in the DD sector. QNTM and WDC have been very good to me the past few weeks. I will get back into the drillers under the following two conditions: 1) another strong breakout with some major news; and 2) stochastics heading back to build a bottom. The likelihood of #2 happening is better than #1 IMO. My reservation is some companies will not meet the now ultra-optimistic earning expectation for the drillers and that may drag the sector down 15-25% for 2-3 weeks. I made my money in the drillers by not just investing in the up phase but also avoided holding on positions in the down phase. It is good to have sector rotation. Yet, the drillers are unquestionably the #1 sector going long term.

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