Drill-Quip [ DRQ ] - oil drilling equipment ipo Message Board

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Gold/Mining/Energy : Drill-Quip [ DRQ ] - oil drilling equipment ipo

DRQ 22.78

+0.8%

Jan 2 3:59 PM EST

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To: Lee Fredrickson who wrote (75)	11/13/1997 7:25:00 PM
From: Michael P. Michaud	Read Replies (2) of 121

Hi Lee, well, we got hit a little more today, even in an up market....I agree with your desire to avoid the momentum crowd....all the drillers got hit today in a round of profit taking....My Fidelity newsletter predicted the same....although we can still expect long term growth. The intersting thing I discerned was; that while we can expect not more than 5-6 new offshore rigs per year for the next decade or 2, I figure that Dril-Quip will be in an excellent position to outfit these new Rigs..... My slogan during this drilling correction is "Backlog, Backlog, Backlog" I was able to purchase a few Korean Blue chips that they are giving away at current price (PKX and SKM) Mike

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