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: Captain James T. Kirk who wrote (44557)	5/12/1999 10:37:00 AM
From: SliderOnTheBlack	Read Replies (3) of 95453

Buying opportunities... in E&P land... biz.yahoo.com ... pounded the table on this one (remember FXEN ?) prior to the Jeffries and now this upgrade; at about $3 11/16ths - will see $6 soon and run back to $8. BELW RRC CRK look very, very cheeeeeep today. OEI HSE UPR XTO on ''any'' weakness here as well. Anyone looking at TMR TEXP here ? ...of course; MEXP - PGEI on weakness as traders get shaken out. Like TCMS low $3's - OMNI $4ish/sub $4 on retracement here. TCMS showed nice year over year revenue growth...not bad performance in this enviroment; and ''where'' do they do the bulk of their work ? - What sector is going to pick up first ? Both TCMN & OMNI are in the shallow water/ transition zones... Bought RIG today - will sit another $2 lower - and buy each $2 down as far as they want to take it... Sitting on limit buys on FLC just a little lower; and on a continued substantial retracement like SDC PGO FGI (super trader, if lower here !) and please MRO come down to mid $20's again. MRO will be a gift on a retracement of major Oils; the integrated Oils will have huge earnings surprises if Oil holds above $17 - huge.... I will buy MRO big in the mid $20's - low,low risk stock ! - good portfolio diversification for the conservative types here. $35 is a gimmie and $40+ if $18 oil sticks - a true no brainer ! Some stocks still have $3 -4/10%+ yet to fall, but others like RIG, FLC I will chase/average into, all the way down; starting right here today... anyone buying ? Anyone dumping ? Anyone honest enough to own up to margin calls ( you guys weren't selling - so lets own up) 80 to 68 is a 15% retracement & can be a 30% hit on capital potentially... tough call on a subject that is seldom discussed here. What do you do if you get caught here ? Wait it out - look for a bounce ? Wait too long and get killed in a downdraft ? If on margin - allways better to trim too soon than too late.... cut positions accross the board, or dump all but core holds... Too much risk to capital to hold through this imo.... Again if you use margin - you have to take profits/sell immediately on ''any'' stagnation, hesitation, or waffling off of ''any'' run like we just had.... With volatility, comes opportunity... the volatility here has not and will not go away. Only those who sold & took profits can take advantage of buying cheaper once again; or be in position to take advanatage of any potential huge one day blowoff/trading opportunities like CLB of late... cash is good. I see OSX 65-68ish as the bottom - any other thoughts ?

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