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: bw who wrote (2515)	10/27/1997 3:46:00 PM
From: Thean	Read Replies (2) of 95453

What a day! I hope we can all learn a bit about market psychology today. This is a great example how one should totally separate emotion when it comes to investment. It is difficult and one can only learn to do better. Drillers, the #1 sector, is not immuned to a market meltdown as we can see today. One is foolish to declare "I have gained so much this year with the drillers and I can withstand any profit taking." - someone once said about owning the drillers. As to cash is king, I would stroke it a little and use it wisely for quality companies. Remember, quality companies will bounce back up quickly and the speculative ones will be stuck at low gear for some time. For the drillers, the question to ask is who are the quality guys with reasonable PE and certain growth prospect next year. My picks include RIG, NE, RDC, and ESV. The land drillers may get a good shakeout this time. Will update later on TA, but I think everyone's picture is spoiled anyway so it really doesn't matter anymore at this point. Just remember, when it bounces back, the quality companies will come back strong.

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