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: Lucretius who wrote (20270)	4/24/1998 1:50:00 PM
From: The Ox	Read Replies (2) of 95453

LT, I think this time you are way off base. You simply can not compare the huge selloff of the entire sector last year to the downdraft we've seen in the last 2 days! Many on this thread seemed to agree that the action earlier this week indicated that we were at a short term top. Taking a few steps back seemed in order. To jump to the conclusion that this sector is ready to see another selloff like we saw last year is far fetched, IMO. The OSX,NE, MDCO and many others had made significant gains and now they are simply catching their collective breath, IMO. The Dow and Nasdaq certainly appear to be ahead of themselves and a correction is to be expected. The quantum leap you are making calling for a bear market just doesn't compute with this investor. We will see who is right in the long run. Good luck. Repectfully, Michael

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