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Technology Stocks : Stock Swap
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To: Proud_Infidel who wrote (15961)12/8/1998 3:22:00 PM
From: Czechsinthemail  Read Replies (1) of 17305
 
BK,

Regarding drillers, though they are down in the dust, drilling budgets are being cut due to the low oil prices while capital expenditures for new rigs are still bringing out new drilling supply. Most of the drillers are heavily leveraged, so they can go down hard and stay down long when times are tough -- like now. Cuts in drilling budgets mean it's likely you will see lowered earnings estimates, so you may get a chance to buy them still cheaper, particularly with tax loss selling as a year end depressant.

good luck,
Baird
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