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

To: diana g who wrote (56960)	12/15/1999 1:10:00 PM
From: Meridian	Read Replies (1) \| Respond to of 95453

There will be a bunch of selling in RIG due to the logisticals/technicals of running money. SLB is in some indexes that RIG is not. Investors wanting to closet index will sell RIG shares once they receive them. Plus the shareholder base is very different. Some SLB holders are PM's that know squat about oil, but want to make a BROAD industry bet based on an article they read in Forbes or Barrons. Most RIG holders know the business pretty well, know the drivers and want to make a NARROW sector bet on deepwater drilling. The selling will happen. The market can't adjust for it beforehand. If investors such as Diane are big big buyers (ie if Diane is actually a PM herself) then the stock may not DIP too much on the day the actual shares are spun out, but don't bet on it. Buy the DIP. gmbler