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

To: double-plus-good who wrote (53143)	10/18/1999 10:39:00 AM
From: r.edwards	Read Replies (1) \| Respond to of 95453

double-plus, I'm buying a lot more of Crk,(Comstock Resources), it looks like a double in two months based on Nat. Gas prices.

To: double-plus-good who wrote (53143)	10/18/1999 11:01:00 AM
From: Jon Cave	Read Replies (1) \| Respond to of 95453

I am shocked that the EnP's are not trading higher today with the colder weather and great earnings expected. I quess hell will have to freeze over before EnP's trade higher <g>. Makes me wonder. Holding BR,APA, OEI and UPR.

To: double-plus-good who wrote (53143)	10/18/1999 3:08:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

one very simple thought: Watch SLB No "real" OSX blow off coming w/0 SLB tanking... SLB will also be the early indicator of sector rotation...may be seeing some today ? Very controlled trimming imho; given Warburg's "manipulative downgrade" and the CPI's coming out tomorrow. Overall market has the fed hike priced fully in here. We only need a neutral, or a postive "stabilization" reaction to tomorrow's CPI. As we did not have a 300-500 point DOW blow off today in anticipation;one could conclude that even poor CPI's are factored in to some degree. As such; imho- this remains a buying/rotation opportunity within the Oilpatch. I am buying/rotating into the MO-Mo quick breakout names here and absolute pure value plays. Dumped my HLX - FGI is collapsing... thought I would try a little back door position & average down - getting some premium as well; but with that "option" deal for Holloway (which is despicable !)FGI is still a sitting duck short target.... not worth averaging down via HLX, or itself. Damn- why did I ever cover my short (VBG) ? This stock should be blackballed (VBG) - has any CEO ever been more self serving ? - but; thanks to a few loyal people; FGI is now a "DOUBLE" for the shorts since May... I'll check back on a break of $8 if seen ??? unrealistic you say ???? think again... Trimmed back small positions; bought much more SII - now a core position; this is a MO-Mo breakout king here... allways has been; allways will be. It is now a 50% return from todays prices back to just its recent highs. Caught FLC finally in the $11's; bought MRL at $13 7/8ths and will average down each $1 - strongly. MRL is the single most EPS leveraged jack up driller to each $1,000 increase in dayrates. Add the potential takeout premium - it becomes a must own here. Dumped RDC; the equity issue may cap its upside nearterm untill its completed. FLC & MRL here, or ESV in the high $16's are better buys imo - I would buy RDC on its weakness into a rising price environment; but not here, with the other drillers this cheap. I sold most of my UTI on the bounce; its holding strong here as are most land drillers; will wait patiently for a real buy - much lower if seen.If not; I miss it and ride the jackup drillers. I will not buy PTEN, UTI here... got my $3 + margin & will just have to live with that. Really like UTI on any break sub $16. MDR holding well here & up for the day; GLBL looks strong; OII NOI not bad. PGO waiting big for $14 3/4ths... IN E&P's trimmed some RRC last 2 days (still a buy here - but may be able to catch it at $3 3/8ths - as the small caps are fading from individual investor margin calls & capitulation here. CRK getting cheap again here; sitting at $3 3/8ths to add again. RGO another 1/2 off is a steal. TMR getting cheaper for those who like it (VBG); I bought FST - now a 50% return to its recent highs, added a bit more OEI - a core position. NBL getting real close - another $1 or so - and its a must own. UPR & PXD holding strong, refusing to give up anything much here... This is close... buy the mo-mo breakout stocks here imho. I like SII - #1 here for that reason. BJS's not quite cheap enough here is another, CAM nearer to $30, or WFT on a major blowoff if seen. Positioning myself to be fully invested today-tomorrow into weakness; will add margin and be fully margined; hopefully triggering a margin call at about OSX 60 if seen; as that is what I would expect as a bottom; even at DOW 9000. Time will tell... some big money to be made here if CPI's are accepted well tomorrow & the API's bring more good news... financials are turning - that's a good sign. PS; for FGI holders here; just curious. Would you really rather hold FGI - where it must move up allmost 50% to break even for most people; or rotate the money into mo-mo fav's like SII CAM RIG etc ? - if so; why ? Do you really think that the shorts will cover - as they are the blanket on any upside here; before the new FGI/HLX reports a couple of quarters post merger, or at least announces a couple of major orders - perhaps at least $250 M added to the backlog ? Other than a bounce trade - which is what I was looking for via HLX (and that doesn't do anything for you longtime holders anything here) ; I see no real upside within 2-3 quarters ? At what point will you finally throw in the towel - $8, $6, $5 ? Do you guys even have a plan ? - seriously; I am curious as to the mindset of loyal FGI holders - a case study in investor behavior...