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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (30091)7/21/1998 11:58:00 PM
From: upanddown  Read Replies (1) of 132070
 
Mike, what's your opinion of buying 5-6 month out calls (or selling puts) in the oil service sector, maybe market leaders like SLB, EVI, VRC, FGII ? The whole sector has taken an ungodly hammering (down 1/3 in 2 months). Some of the p/e's are less than half the s&p 500 even though the forward growth is expected to be much better. The API crude numbers today will probably be a big negative tomorrow and calls may be coming down.. I'am thinking that 5-6 months will be enough to bring S/D in balance and show the great values in the sector. You would think the world was going back to the horse and buggy. Whatcha think ?

Thanks,
John
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