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Strategies & Market Trends : 50% Gains Investing

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To: Dale Baker who wrote (1652)	11/2/1998 5:06:00 AM
From: B Tate	Read Replies (1) of 118717

Dale You'll have to explain the LEAPs to me... ;-) can't seem figure out the symbology and time frames... As for the oils, an acquaintance here in Malaysia does a lot of engineering work for the offshore industry in the region. He happened to mention one day that Global Industries GLBL was on a buying binge. Buying boats and other assets used to service the rigs and lay pipe. After a little DD it became apparent they were trying to spread their wings from the GOM fields into the Asia market. For a period last year they were very tradeable and predictable going up and down within a range every month or so. Played them quite a few times and did OK. VRC is one of the better suppliers to the industry and cuts across all aspects. They are a very good company that has had the hell shellacked out of them along with all the others in the group. Played them up and down a couple of times. MRL was beaten down by lawsuits etc and along with the carnage in the group looked miserable. They have since cleared up most of the legal issues (mostly nuisance from what I can figure) and are now listed on NYSE. Good for a rise to about 11 from the low 6s. I play these with really tight stops ( have had a stop on MRL at 11 for a couple of days) and if I get whipped out I wait till they recycle. My stops took me out of VRC and GLBL last week on minor moves but that's OK. They'll be back! Actually if your interested in the oil service sector they are fairly predictable and they move enough to make it worth your while to follow them. I used to follow the Driller's thread a lot and picked up a bunch of good info. Now-a-days it's just bul**** and bashing. One of the guys on there is an offshore rig/equip broker and publishes a little newletter for those interested in the group. He is Mike Simmons and you can sign up (at no cost) at egroups.com . He is known as Big Dog on the thread I believe. What's the scoop on LOR, didn't they just have something blow up or some type of disaster???? rgds bt

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