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: SliderOnTheBlack who wrote (32189)	11/28/1998 9:29:00 AM
From: dealmakr	Read Replies (2) of 95453

Slider, I do agree with your scenario, but buying on margin without making sure a bottom is in can be very painful. I know because it happened to me. Crude price must test and retest a bottom to support a large play IMHO. As for averaging in on valuation models, it is a good way to build a long term position. Some brokers are raising margin requirements because of the internut mania and you have to be careful that it doesn't spill over into other areas as it could dry up a lot of liquidity. I am looking for more consolidation in the sector, but even then there hasn't been a lot of premium paid lately FLC/CDG,PKD/SESI. Look for the strong to get stronger and some of the weaker players to find partners. Who has the most cash,least debt and is best positioned to ride out the tough times would be good places to be speculating bottoms on IMHO. Good Trading Dave

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