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: waverider who wrote (28205)	8/24/1998 9:36:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

Diamond H & Michael H....Bears and balance... Please; imho - feel free to be as bearish as you wanna be... Obviously; being in cash here recently has been the right move. However; we ARE now in new territory as we have many companies selling under net asset values, some undertaking shareholder rights acts, some being sold/bought, analysts now valuing and setting target prices off of net asset value (bottoms) versus traditional EBIDTA,Cash Flow & earnings numbers. We have also gotten a technical double bottom, seen 2-3 hit & run style Institutional buying flurries and more than a few stocks have bottomed and held well... Remember, the OPEC cut numbers are much delayed - some countries were late in instituting their cuts and the coming OPEC numbers will be the first set of #'s to reflect the overall performance of these cuts - watch for a surprise ... There is room for everyone here; just realize that thick skin is a pre-requisite <VBG>.

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