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: tdl4138 who wrote (31367)	11/2/1998 8:41:00 AM
From: SliderOnTheBlack	Read Replies (2) of 95453

tdl; re: LT's predictions... I think LT and many others are way off base on their characterization of my Bullishness or my position... I have 40% CASH here ! I hold few Oilpatch stocks. I have sold and taken profits - early as it turned out. But, I am buying laggards and oversold, undiscovered Companies. Bought PKD on the ''Sell Now & Figure it out later'' reaction to their great acquisition move... I am buying small cap E&P's that are selling at 30-40% of reserve values... etc. I will buy WFT FLC RIG RON and others on a dip; after tax loss selling is complete and when I see how the Clinton Impeachment plays out, how OPEC's Meeting turns out.... etc. The critics haven't a clue as to my position or what I've posted for months... I'm ''Trading'' here. I do have some long term holds in another portfolio with some oilpatch stocks and do not trade those; but as far as my main holdings/portfolio - it's 40% Cash and I own more Small Cap Savings & Loans than Oilpatch stocks here; I want the fundamentals of Crude Prices, Rig Utilization & Dayrates to turn and another dip/buying opportunity to appear - before I turn on the faucet here again. But, as I am ''trading'' here - that's all subject to change... I see an extremely overvalued Market in whole; but there are greatly undervalued sectors - the Oilpatch mid-longterm is very undervalued, BUT - I am trading and have found better short-term ''Trading'' opportunites with less RISK and better short term rewards than the Oilpatch... just my opinion. I am prepared for OPEC cheating, $12 crude, Clintons full Impeachment AND no further Fed Rate Cuts; but I am also ready at a moments notice to go full margin - buying the Oilpatch first -when I see the risks less than they are now... In a nutshell - I am sitting back and waiting to act; either way - depending on how things play out. Longterm I am very Bullish on some sectors, Financials without Intnl Exposure and the Oilpatch & Steel stocks primarially. There are great Short candidates out there - the Blue Chip Nifty Fifty & Tech Stocks are ridiculous imho. But, for the Oilpatch to selloff 80% from HERE - C'Mon ? Why do you guys NOT call this guy on the carpet...? Make him site his ''Inside Sources'' - you gotta be kidding me ! - You guys take this guy seriously ? Dow 4000, Oilpatch selling off ANOTHER 80% , The market is going to crash to oblivion in an unforseen 1 Day Meltdown etc..... and you guys don't sense it's - ''Funny Farm'' time ? This all boils down to - ''SOME" people - crying foul; whenever anyone questions them or demands a specific explanation...This guy couldn't be more WRONG & talk about BAD timing ! ...'Nuff Said PS: Barton Biggs just turned on the ''Green Light'' on Japan - sees many positives and says Buy Japn....James Cramer as well; I said long ago, that when we got some Tech companies talk about rising Asian demand - then More - ''Japan has bottomed'' news - that that would be ''the time'' - To beat the Crowd to the Party.... We'll that time might be right now.... Only a Full Clinton Impeachment can spoil this party IMHO.

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