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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (27759)8/14/1998 2:42:00 PM
From: Grommit  Read Replies (1) of 95453
 
GLM's release mentioned something I said in past newsletters -- the analysts don't yet know how low the day rates are. I should have sold when I realized that....

Yep. I saw this in the boat sector and was flabbergasted. I called a boat company or two and they told me their present dayrate. I looked at the analyst reports and saw that had much higher assumed dayrates and thought "how in the heck can they NOT spent 10 minutes a week to update themselves?"

Even the CEOs have no idea where this is heading. We can track their statements and press releases since last fall. Even some of the pessimistic releases have been too optimistic.

Phone calls are cheap and we have numerous oily people on this thread who give us advance indications and tidbits. The point is -- with a phone call you can usually get advance information and trade before the crowd.

But I have also called companies and gotten one story only to be blindsided a week later with a yucko press release. Who knows?
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