Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: arizona_ice_tea who wrote (501)	11/18/1997 12:52:00 AM
From: Richard Karpel	Read Replies (1) of 2282

Here's the reason for the downtrend: From James J. Cramer's 11/14/97 8:39 AM ET column in TheStreet.com: >>>Who is Paul Chambers and why is he saying all of these horrible things about my favorite stocks? That question rifled through the minds of at least one thousand managers of mutual funds yesterday, as everyone's beloved group, the oil service stocks, got laid to waste, in a tumultuous, endless session. Until this week the drillers seemed immune from just about every contagion out there, including foreign nightmares, lower oil prices, and the Saddam scourge. But things started to fall apart Tuesday, and by Thursday, Paul Chambers, the Lehman Brothers oil-service analyst, was able to knock out the now-glassy-jawed group with just a hint of a rumor of a downgrade. The decline was so vicious that he said in today's Journal interview, "I'm basically the fall guy for declining prices."<<< I would highly recommend TheStreet.com under any circumstances, but even more so if you're invested in any oil service stocks. Cramer loves the drillers and his finanical news service is all over them.

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