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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Michael Berkel who wrote (6540)1/4/1998 5:48:00 PM
From: Thean  Read Replies (3) of 95453
 
Mike, FGII's chart says that the near term resistence is at 34 (upper BB) and it needs to close above $30 very soon for a move from here to $34 (say in a week). If it doesn't close above $30 in the next two days, then the upper BB resistence may start to drop.

As to S&P's top 10 ideas for 1998, I'll post them when I can find the darn report. I'll get duplicates in the mail next week from Waterhouse (three accounts with them).

This is off-topic but guess people may be interested. With all the Asian financial crisis going on, one may want to bet on an investment idea for this situation. One can certainly buy the close-end SE Asia funds but things are not going to be any better if not worse in 1998 (first half for sure). Jimmy Roger says he will buy them when he see China gets into trouble because that signals the beginning of the end of the Asian crisis. My single best idea for investment on this theme is to by Citicorp. Citicorp is out of favor now because people are aware of their exposure in Asia. HOWEVER, what people have failed to perceive is that Citicorp business in Asia is going gangbuster because of this Asian crisis. Citicorp is the gold standard in banking in Asia and its being American makes all the difference. Citicorp has also started to buy troubled local banks at bargain basement price (hopefully we are just as smart in the drillers). My sister-in-law who is a personal banker with Citicorp in Malaysia told me the business is really good.
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