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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 (53754)	10/29/1999 6:31:00 PM
From: Crimson Ghost	Respond to of 95453

Thanks Gary: Your thinking is very similar to mine. I see as as the final blowoff rally in a very old bull. Should be real nice for a few weeks but WILL NOT LAST LONG. Anybody who expects a replay of the huge and lengthy bull that followed the October 1998 low will be quite disappointed to put it mildly. These comments apply to the overall market -- not energy service about which I am much more optimistic.

To: Gary Burton who wrote (53754)	10/29/1999 11:25:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Number crunching based on SSB conservative projections for calandar 2000 and 2001 eps projections ---MDR now trading at 9.5x 2000 eps(GLBL 13.3x) and 6.8x 2001 (GLBL 7.3x)---MDR is at 3.0xbook(net of goodwill) but has no net debt (actually $1.20 /sh net surplus cash) vs GLBL at 2.0x adj book but a net debt equal to 50% of book equity.---GLBL solely dependent on marine construction..MDR will derive only 35% of its calandar 2000 operating income from such oil-related services (although the bulk of its incremental growth) and has a less cyclical growth pattern. Easier to figure GLBL fortunes out since one dimensional vs MDR hodge podge but feel safer with MDR and it too seems unduly depressed (down 45% from 99 peak and at its low for the year vs 40% off for GLBL, which is still up 70% from its 99 low)---SSB thinks, if anything, its eps guesstimates may prove to be too low, particularly for 2001 (too long away for me to fix on). fwiw---enough stock plugging, back to TA, which at least means something (vbg)---BigDog--any thoughts on MDR??