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: Michael July who wrote (2477)	10/24/1997 3:01:00 PM
From: Thean	Read Replies (4) of 95453

My thinking is the drillers are going to be in the trading range with their recent highs as the top of the trading range for a few more weeks at least. It is hard to imagine they should go higher now given the market condition. Drillers may be considered a safe heaven if the overall market deteriorates but that would only be temporary. The street has a way to selecting out sector by sector to trash in a down market that lasts a few weeks. Who knows we may be in it already and if so look for the drillers to take their hits one day. On the flip side, if the overall market can stabilize then the drillers may be spared. As I always say, long term holders should hold through peak and trough. And for short term traders, cash is king right now.

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