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

To: Gary Burton who wrote (52096)	9/29/1999 9:48:00 AM
From: SliderOnTheBlack	Respond to of 95453

GaryB;... this is where EW's dislocate imho... With companies making acquisitions - having completely different financials; cash positions; and many times - completely restructuring themselves in some cases (not necessarily in MDR's case) - I think going back to 1987 charts is invalid in many, many cases. I would prefer to look at 1996-7 cycle support & resistance and market reactions... too much change in the Oilpatch in the mid 90's to go back to the 80's charts imho... For the last time - widely public knowledge: Druckenmiller sold - because he had to. Had to raise cash & MDR was a major, major position of his. Druckenmiller's "forced" sale and the cloud hovering over the Indonesian Gas Pipeline contract are worth $5 +/- here imho. I'll take that as a gift horse buying opp - a double silver platter imho. Given MDR's net debt free balance sheet, their niche, their $10+ per share in CASH; their pattern in "this cycle" (post 1996) of turning on a dime @ $19ish... certainly supports strong buying here - and importantly - into any & all decline from here. $17 does not bother me - I do not chase .50 cent moves on a $20 stock..... who does ???? I'm in here heavy @ $19ish - and sitting for $17 for the final push- where I am also a "Call" buyer.... Be bothered all you want.... these "unique" events are what make MDR a huge, huge upside play for those willing to trust the #'s and buy directly into the wall of worry from these 2 events... time will tell; but - hardly any downside worry ; ie: net debt free and enough CASH to buy FGI, HLX,GIFI, UFAB , OII with its petty cash & could nearly pay cash for GLBL, or CDIS etc... Analysts have spoken to it looking at OII here... Quite simply; to much compelling information NOT to be a strong buyer in the $19's (52 week low !) - and leaving a bit of powder dry for a break of its 52 week low... this is "THE" play in the 'Patch along with GLBL imho. Bank on it. Gary.... buy Gold if you're this bearish (VBG).