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: E. Graphs who wrote (31014)	10/22/1998 2:37:00 PM
From: tdl4138	Read Replies (2) of 95453

This latest "rally" is great news...especially in RIG...FGII...and a lot of others...but what really concerns me is "why"? Anyone notice the price of crude lately...we've been trending down with only one relatively good day. Without a fundamental reason for this sector to turn around...I am very leary of any sustained gains. Earnings are coming in rather well...but how many times have the estimates been lowered...The only exception I am aware of is RIG...they had a dam nice quarter with positive comments. I am not expecting these gains to hold and would caution anyone looking to jump in at this time. The fundamentals to turn this sector around are not yet in place.

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