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: Jeff Sutton who wrote (2070)	10/13/1997 5:49:00 PM
From: Big Dog	of 95453

Charles Palmer, the head of Rowan, is well known for the past 20 years or more to be somewhat of a "character" and often says "flippant" things. Just like with Greenspan's comments the other day -- he didn't say anything that we didn't already know. You have to realize that these guys in the business are just as shell shocked as everyone else. This industry has been dying a slow death for about 15 years, then one morning they wake up and they are making more money than Billy Gates. There will be ups and downs -- but I will offer this prediction -- Not ONE of the oil service sector stocks are now at the highest price they will trade during the next 3-6 months. Not ONE. If I am correct, and I am putting MY money where MY mouth is in the market, this means you can select ANY of the stocks and make money. How much money you make just depends on how greedy you are. Some will go higher than others, but I really don't think any of us are smart enough to know which ones because the numbers we see do not quantify market psychology and the herd instinct on any given day. My advice, for what it's worth, is to not be afraid to take profits. There is always another bus that will come by. Plus, don't be afraid to cut your losses short. The hardest thing to do is SELL. It's easy to buy, but hard to sell because like it or not you get an emotional attachment to the stock. Plus you become afraid it will go higher after you sell. I could give a crap if it goes higher...as long as I made a profit. NOTE: I forgot the mail is not running today. It will be Tuesday night before I get the Gulf of Mexico newsletter out to everyone that requested. So it's not too late to send me your request at mike@ktc.com. Don't forget to download the Adobe Acrobat Reader to be able to read the file. Big kudo's to Michael from South Africa -- what a call on CKH !!! I didn't buy any today...bought RDC at 39.875. Maybe CKH tommorrow after I sell some of my gainers. And if you think oil is hot...how about oil's replacement? Company named Ballard Power Systems (BLDPF) This outfit has fuel cells that will convert methanol, natural gas or hydrogen into usable electricity without combustion...just water vapor at the exhaust...cool. This is in testing now...their partners are Daimler-Benz -- to the tune of $300 million...Ballard has 185 patents and patents pending on this process...they are producing a 250 KW prototype for use by GPU (the country's 13th largest utility)...with 15.4 mill shares outstanding, the stock has gone from 20 to 70+ this year...with 30 points of that in the past week or so. This is really interesting to me...just thought I would pass it on...don't own any...yet. mike simmons loosbrock offshore

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