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

To: diana g who wrote (47037)	6/29/1999 4:32:00 PM
From: Timelord	Respond to of 95453

diana, I share your optimism longer term, but we have to get around earnings season which is going to be rocky at best. If the fed tightens only .25 and doesn't drop any bombshells, there is going to be a lot of money chasing techs (mine included). Once the earnings cloud parts, the focus will shift to the future, which we all know is bright. Alex

To: diana g who wrote (47037)	6/30/1999 8:46:00 AM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

per Diana's comments... correction is over ? Diana I do agree with your analysis - there is not the fundamental reason for a selloff - except; earnings. I think that when people like Bollinger go on record as to saying they see Oil being shorted soon -it's not necessarially a reflection on the Oil fundamentals; as perhaps an indication of who the street is thinking.Personally if we seen any bad news weakness - the Street is on record, on what they will do; I see bad news in earnings - and thus a shakeout...selloff coming. Personally; I think the earnings season coming soon for Q2 is going to be poor. Rig counts & dayrates, mfg. backlogs etc. are not increasing to any real degree. They are no longer falling, but haven't really gotten a positive foothold yet either. As such; be it on a poor EIA/API number release, or more likely off of a poor earnings reporting season - the Street will do one of their shakeout runs - and if that takes us to the low, or mid 60's is a guess... I would think that a 15% correction would be a good call... All I am doing is repositioning and raising some cash. The E&P's unlike the OSX will have better year over year comparisons than the OSX for this coming quarter. So I want even more $ weighting there . Also, if DO & RIG get taken down to the low $20's - they are heads & shoulders values above an ESV, RDC, near $20 imho... time will tell..... I have sold some OSX laggards of late and am building a huge portfolio position in CRK - and a couple of other gas stocks. I still think Nat Gas mid/small caps areTHE play through Nov. - Dec. I think the OSX will not really take off untill Q1 2000.... need 150 GOM rigs at work and sub 320 M boe in US storage...untill those fundamentals are reached by the OSX - it's an E&P play...