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: Platter who wrote (41851)	4/8/1999 12:27:00 PM
From: SliderOnTheBlack	Read Replies (6) of 95453

Uhhh huhhh - uhhh huhhh - we bad , we bad..... ...to steal a line from Gene Wilder & Richard Pryor (can't remember the movies name -- ''Stir Crazy ?). << we are overdue for an up 6-7-8% day out of the blue....I can smell it... its coming >> Well the day isn't over yet...but 4% ''aint lookin too bad'' Let's see what happened of late; the Street shakesout the weak, right up untill the companies can pre-warn; they of course have their analysts make their calls --- they get the inside scoop; they spread the gloom & doom ala~ the Street.Com just happens to have perrrrrrrrrrfect timing (?) and publishes its Gloom & Doom earnings are gonna be badddddddd article - we have a selling crescendo and then this a.m. - BAMM ! The Street buys the Oilpatch in unison and we have positive Oilpatch articles all over the Net on everything from inadequate supply to meet demand, news that OPEC ''is'' complying, analysts upgrades etc.... even a damn article on ''Individual Investor Online'' touting HLX as a laggard play - gee, nothing like being late to the party now is there....(VBG). If only I had a bigger position in FLC....sigh. - If I was loaded yesterday, I honestly would have trimmed 75% of my holdings if I had the chance; as that is what I view as the only prudent option for an individual investor, who doesn't have inside news when news like that hits... glad to be in a moderate position and then see a delay and a gap open - this kept the individual investor from dumping - good luck for everyone... again, I'm hearing ''rumors'' - nothing to act on - I'm not; but rumours on a merger.. I'll sit here - may chase it if I see some 200K-500K big blocks come in on the buy side... that would be the tip of the hand for me... PS - RIG ''still'' cheap and PGO is a gift - PGO is trading for 3.2 x 1999 cash flow and only 2.7 x est. 2000 cash flow; this is cheaper than high leveraged companies like FLC PDEand is the lowest cash flow multiple on the chart I'm looking at with over 40 oilpatch companies covered by SSB (VTS not on chart - is similar).... one word - FPSO's - buy PGO heavy into ''any'' weakness here - an anomaly. Merrill, or SSB has a 1999 target price of $30 fwiw. 5 year earnings growth of 25-30% forecasted ! - a niche leader and a class technolog company with strong International Deepwater diversity - FPSO's will be a huge earnings driver - a must own stock imho ! UFAB also looking cheeeeeep - SargeK - ufab needs your help ! I also evidently ''caught'' some XTO at $6 7/8ths yesterday on a limit buy and didn't even know it untill this a.m. - them damn fishing lines (gtc limit buy orders) come in handy - able to just throw the net out there and go away for the day and come back to see what I caught... go figure. I bought PGO RIG & FGI with a little FLC during this past blowoff; I'm laying for FLC (no luck there !) RIG FGI PGO VTS OEI on any weakness - doesn't look like I'm going to get filled on anything today; I may try to steal some SEV for trading if it breaks to a new low... good luck - anyone buying/trading anything of interest ?

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