Cliff's Drilling (CDG), Pride International (PDE)...very favorable risk/reward ratio.
It's really very exciting and my absolutely most favorite buying situation - great companies with great demand for their services - greatly beaten up on bad news that really has nothing to do with the fundamentals of the companies or the industry, but only speculation on a worldwide economic disaster .
Drillers have gone down after a severe correction. I don't know whether it will be next week or in two weeks, but these guys are going to fly, so if you haven't bought yet, you really must begin to accumulate.
Cliff's Drilling, Schlumberger, Pride International, Diamond Offshore, and Reading & Bates, and Noble Drilling are the ones to go for..according to an article in Monday's Investor's Business Daily.Day rates for rig rentals are stable especially in the Gulf of Mexico. Cliff's Drilling's earnings alone are expected to grow to $2.90 from $1.50 last year to $4.45 in 1998 and $5.80 in 1999.
I have been accumulating CDG, WII, PDE, and EVI and just as soon as the season kicks in they should continue their wonderful advances. |
