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: SargeK who wrote (42803)	4/20/1999 8:18:00 PM
From: BigBull	Read Replies (2) of 95453

Hi Sarge, so whats the GREAT FEAR now? Earnings? Does anybody in their right mind who has been living on planet earth for the last year not expect trough earnings to be utterly putrid? For every Core labs disaster there is noi, lss, and pgo. NOI reported horrendous earnings AND was downgraded by SSB the SAME day. What happened? Nothing, the thing went up a little. LSS goes rocket ship style. PGO make a one day dip and then goes right back up. Sure, if someone could catch that trade then bravo, my hats off. But what is the lesson being learned in real time here? Maybe it's not such a good idea to sell your stock based on trough earnings. Are people listening? We will see as earnings season goes forward! How about the next GREAT FEAR - rig cancellation - At oil 18 dollars a barrel the likelyhood of that is slim. The likelyhood of a new contract being entered is just as if not more likely. UFAB is a classic example of the rampant fear mongering. We are told that UFABs backlog sucks, and the stock will go down down down. Then all of a sudden they show up with some new contracts. No my friend, the markets are psychological snakepits designed to part you from your stocks at a loss or a small gain. Over the years I've learned to fade almost all of it. Some times I succomb and sell way to early like I did with GLBL. Hope UFAB goes down tomorrow so I can add another little chunk. Yumbo! I'll see ya at the top!

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