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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Czechsinthemail who wrote (6619)1/5/1998 2:11:00 PM
From: SJS  Read Replies (2) of 95453
 
Here's today's problems: (lower oil prices previously mentioned):

13:35 ET Short Candidates: On "Wall Street Week With Louis Rukeyser,"
highly-regarded Prudential Securities Managing Director Ralph Acampora
recommended selling short oilfield services concern Tidewater (TDW 50 5/8 -2 7/8) .

13:22 ET Oil Drillers: Industry stocks continue to take it on the chin, as investors pay close attention to oil prices, concerned that prices might approach a level that would prompt the major oils to cutback on drilling activity. Today, the February contract for West Texas crude has fallen another 32 cents to $17.11. Also, Schroder & Co analyst Michael Mayer reduced his spot crude price forecast to an average $18.00 per barrel for '98 from $19.00 per barrel. Notes that there is substantial risk that oil prices will drop into the $15.00 per barrel range during the Q2 unless OPEC reduces production.
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