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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Thean who wrote (9376)1/23/1998 9:06:00 AM
From: Lazlo Pierce  Read Replies (1) of 95453
 
Thean, here's latest P Engr post from AOL Board. Still bearish.
***********************************************
Subject: Update
Date: Fri, Jan 23, 1998 00:10 EST
From: P Engr
Message-id: <19980123051001.AAA12233@ladder02.news.aol.com>

My position remains unchanged from 1/16/98 post.

The shorts are listed in my 1/6/98 post.

The downside risks for the drillers are listed in my 1/11/98 post.

Bargin hunting should be avoided at all cost----even though it does
become "tempting". If this is a bear market, we will see much lower
prices take place over a long 12-18 month, seemingly endless process.
At the end, all stocks---even the "strongest" will be taken down.

Preservation of capital will pay off big, as at the end, there will truly
be fantastic bargins galore.

Will post any change in thoughts. Until then,

Best to all of you!!
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