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: gregor who wrote (32460)	12/4/1998 3:48:00 PM
From: Douglas V. Fant	Read Replies (3) of 95453

gregor, Holy shit! I've been studying the service stocks carefully the last two days and thinking about them and how they relate to the massive breakout of tech/telcomm stocks over the last nine weeks. Techs and telcomms lead the market(Did anyone buy AFLX which I suggested at $2 3/4 share nine weeks ago when it sold at 1/2 of book value or SCI at $22 share which had a P/S Ratio of 0.2!? Check 'em out now!!) both on the upside and on the downside. Energy Service stocks are either followers or countercyclical in nature. I'm beginning to think that the OS Stocks are getting ready to follow the tech/telcomm crowd- maybe after this correcive/tax loss selling period passes. Why? because the OS Stocks are now profiling just like the tech stocks before their huge explosion. Gosh! Look at ESV!! Selling at book value (note debt downgrade however)! Look at SLB or BHI- selling at 52-week lows. WFT sells at a P/S ratio of 0.7! Or RON's B/D just authorized buying back 20% of the entire float of the Company! (Note: Someone also just made a huge upside bet on RON buying 200 Dec 25 calls- now who knows what???)..... No guarantees in this world and we may not see 350% in two months on our money like we did in AFLX or 150% on our money on SCI. But man! These OS stocks look really cheap and sentiment on OS Stocks is negative, negative, negative! To me that means anyone who was going to sell their OS shares, already has. IMO it's time to buy, even if we are ein the middle of a correction here... So I started to day with RON, and will "eyeball" others tomorrow..... Sincerely, Doug F.

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