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

To: articwarrior who wrote (54488)	11/11/1999 4:12:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

MDR Call buying by Institutions quote.cboe.com Looks like 950 Dec 15 Calls were purchased and 300 Dec 17.5's. In addition to the heavy volume, the heavy call buying is indicative of a bottom. Could still go to 12, but don't think it would stay there very long. Got in a little today for a bounce play with an average of 14.25 now. Looks oversold considering the backlog and prior levels over the last 5 years. It'll be at least 15+ again within 2 weeks - maybe tomorrow.

To: articwarrior who wrote (54488)	11/11/1999 4:14:00 PM
From: Think4Yourself	Respond to of 95453

I agree. They have low debt, so taking on a bit more is no big deal. They also have a strong backlog. Asbestos claims are surely not new news and have been priced into the stock all along. JMR will be breakeven this quarter (oh well). Earnings were bad, but did they justify a 26% haircut? Maybe if OPEC opens up the taps and floods the world markets, but otherwise, prices harking back to 1989 are hard to pass up. Sellers probably not all out today. Price dropped right into the close. We may not see a bounce tomorrow. Also interested in their "services for hydrocarbon processing facilities". My belief is that refineries are going to be in a world of hurt come January.