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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (46971)	6/26/1999 11:04:00 AM
From: tdl4138	Read Replies (2) \| Respond to of 95453

Roebear, Thanks for the chart..I hope its correct in indicating we're about to move higher... Maybe I'm just getting to cynical, but to me, what dictates what direction we go is pure and simple "perception". If the street perceives that the OSX is the sector to be in...we run...If the perception turns and the idea is that crude will fall...OPEC will cheat...we crumble. TA is great...and often helpful...but I'm leaning more and more to understanding the psychology of why and how this sector is getting traded. For the life of me...I don't see the value in FLC...and won't go near it.Could care less what the "charts" say. Others see a potential home run..oh well. This sector ran up with a fury when crude jumped to this level. The "perception" was that it meant higher earnings...immediately...in most peoples minds. Now that reality has set in, most are looking to next year for the great OSX "move". I see the little E&P companies as the potentially greatest returns. As a long term hold, FGI and FLC will probably do well...but why would anyone want to invest in a situation where there are additional problems to overcome. I used to really like FGI...but the reality is that it is no longer the same company. I'd rather sit that one out and see how they evolve before putting money in. I'd rather invest in MRL once we know about the 700...then buy FLC with its massive debt.Paying off that debt will eat up a lot of revenue. ESV.. PDE...or PTEN... are in a better position to capitalize on a sector rebound. I'm just glad this sector has so much to work with. Good luck with FGI...but I'd look elsewhere for a long term hold. Just my thoughts Dave