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: Ronald J. Clark who wrote (6224)	12/29/1997 10:27:00 PM
From: Teddy	Read Replies (1) of 95453

Clearificaction on Cramer and the Drillers: Over the past year Cramer has done several indepth articles praising this sector. While i do not agree with everything that Cramers says (and he also admits in print when he is wrong), it should be noted that we has been long on the drillers for a long time and has not sold them yet and plans to continue to hold some in the future. The first and last paragraphs from his recent "Wrong!" article: "Let's talk drillers. I loved this group last year. I loved them this year. They returned the love until October, when they capsized.... I am loathe to knock the analysts who didn't see the selloff coming, in part because we aren't yet in the number cutting phase. In fact, we just got out of the number boosting phase." "...I now believe that any lift will represent a chance to pare back the group to a couple of favorites. Tough to blame the analysts when you missed the top yourself." Cramer is more of a trader than a buy and hold investor. He is pretty bearish on the over all market for the next few months, so "pare back the group to a couple of favorites" is actually a bullish statement for him.

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