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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: debra vogt who wrote (9114)1/22/1998 12:03:00 AM
From: John Carpenter  Read Replies (1) of 95453
 
Debra,

It is extremely unlikely that Clinton will be forced to resign
-he is very, very resilient. His resignation, IF it occured,
would probably cause a selloff that would last a few hours.
Then, the calmer, "brilliant" investors would recognize that
Al Gore would take Clinton's place. Gore would maintain 99.9%
of Clinton's policies. The market would recover fast.

The fundamentals for the drillers are nothing short of
extraordinary, particularly at firms like RIG, FLC, FGII
who report that business is IMPROVING.

As for the technicals, in the short run ANYTHING GOES. Be
careful with your trading(gambling) account. The best stock
in the world can go down for a few days/months-it doesn't
necessarily mean that the fundamentals have deteriorated.
Think about how often traders and analysts have fears that
prove to be unfounded-it happens all the time. Or even how
CNBC trumpets the worry du jour. The companies we follow
are exceeding earnings estimates. It angers me when I see
how often these concerns prove to be unfounded and groundless.

In the case of RIG and FLC, these stocks have more than
quadrupled(even at today's prices) in the last three years.
Does a few points really make much of a difference when you
look at these stock's long term charts?


John




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