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 (30946)	10/20/1998 4:13:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

"Timing'' is everything/CNBC - Bollinger and then Maxwell killed us ...I watch RON & CXIPY as my 2 ''personal'' Mo-Mo indicators; when they turn & run; I will now turn and run ! ...they did & so did I. I think Maxwell is wayyyyy of base; but the crude price action is incomphrensible to me... I think supply is over stated and we do have some statistical & trader influences that have moved crude under & beyond ''fair value''. I would think crude would be $16 with the OPEC cuts - just my feeling. I am going to sit & watch here a little bit. I'm gonna look for those overdone 1 day panic sell offs like Range Resources/RRC - which I am still holding. I am real comfortable with spotting ''anomalies'' that are way under liquidation values here; and we are seeing some. I smell GW breaking a buck (buy on dips downward - for a buyout play imho) and HMAR, TCMS, HLX and some other laggards if the blow off here are in that ''firesale'' territory. I really like HLX - if it sells of from here; they have a very diversified business. I smell RON coming to $28 real quick - touching $25-6 perhaps soon; FGII I pray (sorry guys) comes to $10 once again and I'mm all over it and maybe some calls - I want some calls out in May-June here in the patch. I may just buy some far out calls in FGII VTS especially on a blowoff here. Good Luck - The Wind is changing again here; the last 45 minutes were brutal !

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