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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: MonsieurGonzo who wrote (6099)12/24/1997 12:30:00 PM
From: bw  Read Replies (3) of 95453
 
Steve...I agree with your possible Soros connection. He bought his majority of GLM at $25-$26 and has been known to short aggressively; and as not being wholly responsible, of course, for the driller's decline...his actions could have influenced the inside players and exacerbated the recent situation. I still think that profit taking is the main reason, however, for the recent declines. Now, it's time to regroup and look at the larger picture again..
As to SE Asia exposure, the main concern that I see is in demand for product..and until we all start walking or riding our bikes to work, the demand will be there. Prices are forcasted two years out in the $18-$20 range, which should maintain impetus for drilling. Also, cold weather upon US will help NatGas..which is an often overlooked component in the equation...Gas is also an environmentally friendly product that will balance concerns for those with worries about the recently held Kyoto conference.
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