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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Harlan Moore who wrote (26896)8/3/1998 5:05:00 AM
From: Crimson Ghost  Read Replies (1) of 95453
 
As one who has closely followed the industry for some time, my take is that most of the damage has been done, but the bottom is not here yet. With the overall stock market poised to drop sharply over the next few months, oil service will not buck the trend unless oil prices rise sharply. Failing that, the OSX could drop another 10-20% by October. Look for earnings estimates to be cut in the weeks ahead.
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