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: John Carpenter who wrote (28308)	8/25/1998 4:53:00 PM
From: upanddown	Read Replies (2) of 95453

John: Kind of impossible to make any sense out of the valuations the market gives the OS sector vis-a-vis Internet stocks. Sure doesn't do much to prove efficient market theories. techstocks.com The OSX change of -2.16% (with its overweighting of HAL SLB SII) doesn't begin to reflect the carnage in this sector today with at least a dozen cos. down from 6% to 33%.....all on very little news and on a day when the oil contract had a very ho-hum day closing at 13.75, up .11. Oil has been trading in a tight range for months. The only connect we have with oil prices these days is if oil doesn't go up, we go down hard. Oil price stability does not translate to OS stability. The collapse in this sector is really stunning. John

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