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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: John Carpenter who wrote (37526)2/13/1999 5:09:00 PM
From: SargeK  Read Replies (1) of 95453
 
John,

Your choice of the words: "If things revert more to
their historical mean, we should be experiencing dead money
for a while." suggests a very long wait for recovery.

The Phrases "Dead Money" and "Dead Money Zone" appear to be the new lexicons to be added to the "World Oil Glut"..

I interpret these catch phrases as not so subtle persuasions to Value Investors to unload Undervalued Assets @ Depression Level prices.

The World Crude Supply/Demand Ratio is coming into balance and next months OPEC meeting could very well develop a shortage in the not distant future. Only time will tell. The Exporters will act in their own nationalistic interests. They did so last year. They just didn't go far enough. The OSX has gone above sixty during the so called "glut" when conditions were less favorable than right now.

As far as so called "Dead Money" is concerned FGI stock moved from 9 3/4 to 13 plus in 2 weeks. That is a 30% plus swing, quickly and dramatically. Average daily volume tripled in the day following the earnings release. I don't call that "dead money", I call it dynamic activity with healthy vital signs. GIFI and others, reporting healthy earnings and backlogs have demonstrated similar signs of "LIFE" in the fast lane.

K

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