Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Michael July who wrote (2477)	10/24/1997 11:43:00 AM
From: bw	Read Replies (2) of 95453

To put in an opinion that is diverse from those in the majority, seems to me that the "correction" in the drillers hasn't even begun yet. I tend to take the unanalytical approach as one of punishing the new money that moves into any stock and achieves quick profit too much-too fast. These stocks have moved up 50%-200% in the past six months. There is no "undiscovered" sector in these sophisticated economic times. Now that these drilling stocks have become known to everybody from Uncle Bob to Aunt Sue, the momentum play that has developed will work both ways. As posted, the earnings "surprises" are pretty much taken out of the equation, since the day-rates and number of rigs is a finite, and the numbers are well within estimatable limits for the most part..ie. six rigs @ $70k p/day. I still like the sector and will try to buy on the value + momentum, but feel like there is still alot of froth in these seas..

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next