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

To: Fitz who wrote (52699)	10/8/1999 3:53:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

CRK @ $3 3/8ths... Soooooooooooo manyyyyyyyyyyyyyyyy gifts - soooooooooo little money left.... Other than GLBL - trying to stay in the over $10 stocks to maximize leverage here... PGO - looking real cheap here as well; have new limits on PGO & UTI on weakness into the close here. Oilbabe: OEI - has had a significant move from its $5 ish bottom - some funds are locking in still, substantial profits here. OEI with their recent drilling success with their partners; all ready being on record for beating Q3 analyst numbers, allready beating analyst targets & timetable for deleveraging - is a super buy here... My key thought; is not to chase tics, or even 1/2's here - make averaging down worthwhile folks... Make a major entry here - maybe even on a bit of margin if you like; but average into full positions of cash, or use of margin on just your 3-4-5 "best of the best" stocks; and average in on substantial moves of levels 7.5 - 12.5 % lower than these prices... make it worth your while to average down - don't chase tic's. Thinking "triples" in 18 mos here - thinking CRK @ $3 3/8ths & GLBL @ $6 1/2 - are sure bets... There will be no Oilpatch Boom in this cycle without $20 GLBL - bank on it. FWIW - I'll post my thoughts & some intriguing info on GLBL later tonight - which right here I consider to be the single best buy in this cycle, that I have seen given the sector fundamentals, crude prices and their acquisition here... this is "Job #1" - to BUY GLBL ! Crude Prices are not too hard to understand here; Traders were overly extended in long contracts; they knew it. Many hedge funds are closing long positions - going short crude & the OSX simultaneously... smart move - hardball for sure; but kind of guaranteeing that even if crude holds - they know that the OSX will sell off on crudes move down; and it is. Shorting the OSX is a smart hedge while closing these positions. Watch them turn on a dime as they crack $20... We are at OSX prices indicative of $17-$18 Oil allready which is a price level that virtually any CEO would have locked in months ago ! PS - how about those E&P companies that hedged heavilly here at the peak being great plays... versus the TMR's of the world (VBG) - double edged sword coming back to haunt them JQP ?