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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)
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To: Elmer Flugum who wrote (516)11/21/1997 5:57:00 AM
From: arizona_ice_tea  Read Replies (1) of 2282
 
Comment about oil drillers from Prudential-Bache

Here ist the article:

"This group has experienced a major correction in spite of strong
fundamentals. Much of the selling has come from the portfolio managers, with the best performers of 1997 now the worst hit. The
managers give two reason for their sales:
1. This sector due to it's exceptional performance has become a larger percentage of their portfolios than they would like to have allocated to this sector, therefore they report that they are cutting
some of their holdings
2. With large gains, they would like to lock some of these in before
the end of the year and before the winter season settles in bringing
weather related concerns."

Good luck to everybody

Michael
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