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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Czechsinthemail who wrote (6708)1/6/1998 2:59:00 PM
From: TIPPY2  Read Replies (1) of 95453
 
When I first began to accumulate stocks within the oil service industries, it was for the following reasons:

1. Year over year growth potential exist as long as the demand exceeds the supply of rigs available.
2. Although the price of oil could and probably would remain somewhat lower....the cost to pull up this crude would be less due to technological advances....thus continuing the exploration cycle for replacing resources.
3. Due to the time frame and cost incurred, new rigs would not seriously hamper the supply/demand equation for quite sometime.
4. The Far East political situation has always been a wild card that rears it's head at the most unexpected times and the only thing constant and predictable is that it is inconsistent and unpredictable.

Even though the reasons for investing remain the same, I have suffered considerable losses within the last 8 weeks (as have most of you). It has been a painful testing of patience and conviction and I am not sure I can understand this manic market but I feel confident that pending earnings announcements will give some positive direction and stability. If not....I will begin to enjoy that big glass of wine before the market opens rather than wait for the closing bell!

Thank you all for the wonderful postings.....informative and with humor....I have learned so much thanks to you...HANG IN THERE....Now go out there and make me proud!

Mom
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