Strictly: Drilling and oil-field services Message Board

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

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To: Broken_Clock who wrote (14954)	3/16/1998 8:42:00 PM
From: 007	Read Replies (2) of 95453

Ouch! Today was nasty. We are approaching armageddon and we'll probably be without a president. I managed to get lucky by selling tmar early when it was doing better than the rest. I decided to take money out of the sector, and tmar had broken its tight little uptrend. Good thing I sold it because news of the vessel sinking sent it down more. I intend to get back into tmar. TMAR and MAVK look like super value plays. Took a hefty loss selling evi when it broke support at 44. I didn't think it would break 44, but that was enough for me. Beeblebrox, you were right. Watching all those supports break today, I actually turned bearish. But I'm not planning on parting with RIG (biggest pos.) nor MDCO, and I agree that we should see some bounce in the sector now. I'm not looking for that nice rally anymore, though. Lucretius, I've come around to your view that we're not going anywhere until the outlook for crude brightens (which could happen this week or more likely take a couple of months). Venezuela's long-term production plans are not going to be easily changed overnight. And the Saudi's are right in not giving in. In fact, it might make sense for them to pump some extra now to speed up the capitulation. Meanwhile, as long as the builders don't build too many rigs too quickly, we'll just be postponing that great runup. We should probably be talking more about companies with very high percentages of gas business, because they could be the first and fastest to climb out of here. Don't get too gloomy folks, there's always Saddam. James PS Started a new thread on a non-oil microcap that I'm in: Subject 19808

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