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: Redman who wrote (5760)	12/19/1997 7:58:00 PM
From: CrabDaddy	Read Replies (2) of 95453

No one is kidding you - these numbers are real. I see this sector as the safest place to be for 1998. After earnings in Jan. this sector should be flying. For the past few years I've been mostly into techs and drugs - CSCO INTC MRK WLA. The real killer for stocks is earnings disappointments - 3COM, 3M, NIKE, etc. Drag 'em out and shoot 'em. I just don't see the potential for big disappointments in this sector. At current prices, does anyone really expect some of these stocks will flat and trading with pe ratios of about 3 or 4 in two years. I think that you will start seeing the "Predictions for 1998" articles coming out with some pretty bearish comments - I also think that some of these bears wills concede in the same articles that the drillers are really gonna be piling on the earnings and that this may be the "value" industry for the next year or so. What else can are they gonna recommend? Anything with a lot of foreign exposure will be out. Amazon.com at over $50/sh MIGHT earn a dime in 2 years - get real. Deflation for the retailers is a very real possibility. (50% of earnings come in the 4th quarter and it isn't looking THAT great so far) It just makes me sick that this industry is not being recognized for what it is - The big earnings champ of 1998. I really believe we are all going to make a lot of money over the next 12-18 months. IMHO. BTW - On Wall Street Week last Friday there was a pro (don't remember the name) who was overly cautious and negative on stock returns in 1998. But when Ruke pushed her to mention an area she likes, she said that the oil services looked interesting - She volunteered two names: Parker Drilling and Noble Drilling. I think we'll be hearing a lot more of this type of commentary in the net couple months. i.e. "bearish - except for the oil services" NE, FGII, MIND, GIFI, EVI, TDW Good investing, CrabDaddy

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