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: Big Dog who wrote (31028)	10/23/1998 4:09:00 AM
From: upanddown	Read Replies (1) of 95453

I sit here and wonder why people think these stocks are so under valued. Big, I think the perception of undervalued comes from the current published earnings estimates for this sector and that many OS stocks are still trading at a large discount to their forward growth rates while the S&P 500 is trading at a huge premium to their growth rates. I don't think the street really understands how declining day rates will require those future estimates to be ratcheted down sharply. Then there are the momentum players who probably think a dayrate is a all-day ticket at Disney World. Lets also not forget that we have returned to a very frothy market that is having temporary amnesia about all the problems in the world. John

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