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

To: SliderOnTheBlack who wrote (52591)	10/7/1999 7:33:00 PM
From: Big Dog	Read Replies (3) \| Respond to of 95453

As long as oil is above $19, the Dog gives a LL Bean-certified guarantee for Boom 2000. There ain't no guarante better than an LL Bean guarantee. Do you "load da boat" now to get Y2Boom compliant? I agree with Slider...if not now, when? Sure, maybe there will be a little more slippage...or maybe not. But this looks like blue light special time...especially with RIG which will become the mother of all drillers after the merger with Sedco. Sedco has been mismanaged and does not have a good reputation (not unlike many companes that are just divisions of much bigger outfits)...you can't run international operations by sitting in an office in Dallas. You gotta be in place...on the ground, eye-ball to eye-ball. RIG will "fix" all that and obtain max value from the Sedco rig additions. Watch for the analysts to gush over the new RIG after the merger details get aired and they start to "understand". (There I go using that word again...) big atoffshore.com

To: SliderOnTheBlack who wrote (52591)	10/7/1999 7:38:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

The key to making money here is not trying to guess where the OSX will bottom, but being ready to buy big when the technical action signals a bottom is in -- whatever the level of the OSX at that time. Buying cheap will not make you money if stocks get still cheaper. Especially for traders who cut their losses short as they should. I still think the bottom will be marked either by the failure of the OSX to react to bad news or a final selling climax that is quickly reversed. With even Slider now talking about OSX 60, my instinct tells me one of these is very near.

To: SliderOnTheBlack who wrote (52591)	10/7/1999 7:41:00 PM
From: Winkman777	Respond to of 95453

Slider: Maybe your best posting ever. Cool, calm, rational, logical, and gutsie in the face of a OSX almost in free fall. Thanks. Psychology has been a hobby of mine for many years. In the last couple of years, I've done a lot of reading in investor psychology. This can be a time of fear for the normal investor holding oil stocks. Rather than selling out of fear, keep a clear head as Slider, Oilbabe, and others are doing. The Chinese character for crisis has two meaning: danger and opportunity, we are also IMO at a point of opportunity. In late 98 and early 99, we had a clear technical bottom (triple actually) as well as a psychological one (Economist -> $5 oil). At this point technicals only point down, as they will until we have had a sustained turn upward. In general, I believe in what Marty Zweig and others say, namely, ("Don't fight the trend."). Rational advice for investing. But here, there are more basic trends - Supply and demand. Investing is a gamble. As Slider effectively points out - at this point the odds are in our favor. I will continue to raise cash - selling HRC tomorrow (slight loss). While I continue to believe in both HRC and recently sold WMI as long term value plays, they can wait. If prices look bad (good for buying) enough I may go on margin for the first time ever. If you are too worried, focus on the long term. Best wishes, Winkman EDIT*** George, your rationale for the timing of an upturn seems very credible. BigDog: Timely and informative post. Thanks.