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: MARK BARGER who wrote (27512)	8/11/1998 12:02:00 PM
From: SliderOnTheBlack	Read Replies (4) of 95453

Entry points.....buying opps ? Mark Barger; I am NOT saying its time to buy accross the board, but rather on individual cases, where individual stocks get disproportionately sold off on a 1 day basis - where a couple of funds dump etc. FLC & CDG will offer opportunites today. For those who believe in the ''Hand Grenade'' Theory concerning the bottom (that one does not have to be at ''the'' bottom & close does count...) - or ''It's the numbers - stupid!'' ...as in there is a point fundamentally that the market will come to fundamental value. The only reason we didn't get sector rotation was the overall market offered greater opportunity - that is no longer true ! - Ralph Acampora has gone from guru to goat & back to guru ! This guy gets a bronze statue for putting his ass on the line. I want someone who is willing to reverse his position on a dime, IF market conditions warrant... and is not afraid of publically taking an unpopular stand. Acampora has guts and he must be smiling today....notice how no one is saying he called it correct after all... They were talking about - would this cost him his job etc. days ago - now we get the hit... and no one is giving him credit. We will get sector rotation here very soon...as the dust settles. Selected stocks like - ""The ROCKS" -- RIG, FGII, RON, EVI, SLB are near enough that for the long term - they are at the bottom or close enough not to matter. RIG under $30 is selling at 10 times trailing earnings and 8 times the lowest '99 estimates - of which much is allready ''guaranteed'' with existing contracts... this is a classic fundamental pure value - RIG aint going to $22 or a PE of 5-6....aint gonna happen in any scenario - period. They can have earnings fall another 1/3 for '99 and they are NOT overpriced here. FGII as well at $14 +/- with their growth and backlog and upside is a no-brainer...it aint going to $9......kind of a second chance opportunity for those that missed the FGII IPO ... Classic, classic - double bottom shakeout.... will many dare to tread into the decimated land of death by 1000 cuts and pick up the pieces ? - I am. This bottom fisher is gonna get FAT ! ... or is that ''Phat'' ? PS: ...what is Pisani's (CNBC geekoid) fixation on the Oil's all about ? ...anyone else pick up that he seems to take an exceptional interest in this sector ? ...what was the guys name in MADD magazine - Alfred E. Newman ??? - Pisani is the "geek of the week''...

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