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

To: upanddown who wrote (49978)	8/27/1999 2:37:00 PM
From: AltLar	Read Replies (1) \| Respond to of 95453

FGI is in a nose dive. Any news? Larry

To: upanddown who wrote (49978)	8/27/1999 3:13:00 PM
From: enervestor	Read Replies (2) \| Respond to of 95453

New to SI, but I have been following this thread since April when I began investing heavily in energy. I am a tax-averse long term investor investing in energy on my perception of macro-fundamentals that I think will support strong multi-year gains for energy stocks. Most of my portfolio is E&Ps, but have been moving more into service companies recently. The big question about energy investing as I see it now is when to buy the deep-water drillers. I have been in and out as they keep saying it will be 2001 before they exceed 1999 profits, yet their share prices have moved up as much or more than E&P and service companies that should be rocking and rolling in 2000. Do the people bidding them up not know about next year's lower profits, or just don't care? Clearly, RIG, DO, and probably FLC will be institutional and momentum favorites when their earnings start rising, but they are also vulnerable to a serious correction if the market cares about earnings over the next eighteen months. What to do?