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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Gambler who wrote (30602)10/11/1998 9:32:00 AM
From: Teddy  Read Replies (3) of 95453
 
Since you asked, I am working on updating (revising down) what price I would being willing to buy drillers at. I'm using a complicated F/A T/A mix that I made up myself that is way too complicated to explain and I am still working on it. I'm using the accounting stuff my Dad taught me, the oil biz facts Big Dog taught me, factoring in general Market psychology, long term charts and stuff like that.

Please don't everyone throw rocks at me, but from what I see, these stocks are extremely risky at these prices: there is very little chance that these stocks will move significantly upwards before December and it is very likely they will take out their 52 weeks lows and then some.

Here's four drillers that I have new targets on and some notes. I'm not trying to scare anyone, and if I'm wrong at least I will have learned something and will make adjustments in my method.

DO: this stock would not be cheap at $16, but that could be the low.
GLM: should trade below $5 for 30 days. $3.50 is possible. This company is a mess.
RIG: $18 would be a good price, but if it breaks that it could see $14 for a day.
NE: will see $9. Do not buy at any price until the first EVA conversion is actually working.



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