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: marc chatman who wrote (27695)	8/14/1998 10:23:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

EVI - ....a glutton for punishment ??? wait ??? There are 2 companies who stand out here for me. RIG & EVI. With EVI's acquisition of Weatherford they took some charges and the very short term traders are out of it as it will NOT help them in their quarter to quarter - week to week mututal fund statistics. It is trading at a ridiculous PE here off of 1999's lowest estimates. I am trading alot here lately and also playing a Financial Buy out play; and am holding only a few stocks here... EVI, RIG, FGII, RON, OMNI & (trading FGII pretty large here) - are the best imho & DRQ & CDIS are smaller long term holds for me and CXIPY, SCSWF & CLB at the 3rd tier with small positions that I hope to add to later after I diversify from core holds as we turn the corner on crude... Right now - I have no problem if I can lower my cost or last purchase in EVI by $2 - I'm in....I set a lot of limit buys here and I don't care if it trades down on through by 7/8's or whatever... I'll buy again on the next 10-20% downward move. If I own EVI @ $21 & $23+change - I'm not too worried if it traded at $20 7/8ths - you gotta pick your spots --- otherwise you're ''micro-managing/trading'' imho - this goes to the retrospect/monday morning quarterbacking of both calling & buying only at ''THE'' bottom... Realistically; nothing fundamentally has changed with EVI - no news, why shouldn't I jump on a $2 move ? I'm much more likely to miss a good opportunity by trying to ''perfectly time'' the market -- this goes to the impossible arguement of when do you get on & when do you get off, head fake rally's, bottoms vs. intra-day lows etc... I think at fundamental lows where there has been demonstrated support & basing - one needs to jump on a $2 move in a $20 stock when ever you can...especially if it is a core long term hold and/or a sector ''Blue Chip'' like EVI, RIG or RON etc... Look at how fast MDCO moved... let's see where EVI ends up today or Monday & next week....only time will tell. Adding: ...EVI's earnings estimated @ $3.29 for 1999 earnings = a PE of 6.69 How about FGII today....

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