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: articwarrior who wrote (31851)	11/16/1998 1:47:00 PM
From: tdl4138	Read Replies (1) of 95453

Why not short HAL...or RON...SLB... As every day passes...more and more oil companys cut exploration budgets...the prospects are getting dimmer...for the short term. Until something positive appears...to change the perception of this industry...I'm afraid the only direction these companys are headed is lower. To expect anything else at this time is just wishful thinking. Even the prospect of bombing Iraq had little effect. When crude starts to trend higher...and holds...these stocks will turn But when that will happen is anyone's guess...By staying short or in cash...you'll have plenty of time to jump when it happens.Dayrates and backlogs won't jump overnight..as some have speculated. We'll see gradual improvements in quarterly earnings as the price of crude firms. If the major players keep cutting their budgets...where will the revenues for HAL>>>RON>>>SLB>>.come from? Just my thoughts

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