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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: RGinPG who wrote (15027)3/17/1998 11:24:00 AM
From: Broken_Clock  Read Replies (1) of 95453
 
RG-
Some one commented earlier(marc I think) that any rally will be met with selling as the last sellers try to get out before even lower prices. I hate to say it...But this is starting to look like December's decline. SLB has brken the 68 barrier rather easily. 64 is most likely today with the 58 range being next strong support.SLB would still have a PE of about 18-20 at that level. OSX 88 was the Jan support. We'll see what happens. When GLM says the auction(GOM) will be mediocre, I can't see how we can expect to get a bounce this week. As oil continues down these stocks will slowly bleed like 2 weeks ago. The only thing that staved off this recent bashing was the merger news with HAL.
PK
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