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

To: upanddown who wrote (60785)	2/23/2000 2:22:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Crude up .36 cents & gas up .01 & E&P's on sale... The valuation gap between E&P's and their pureplay nature to commodity prices is widening here to the OSX. Add to that; the much better earnings visibility for the E&P's and one hell of a play is building here... Futures pits say OPEC is going to "trickle, or hold" and stocks say look out below ? - amazing... EOG sub $15 - anyone else get a taste ? Huge stock buyback is defending that level folks - saw it happen in a blink - you can begin margining this one for a 50% run to $22 which is a margined double ... the buyback is the key here on this one. RRC -Convertible is arb'd - shorting the common but, this is ludicrous. It IS priced for Bankruptcy here - with the JV and their reserve life, cash flow and exploitation vs. exploration nature - I cant find the #'s supporting a BK here ? Sub $2 - you know the drill folks... spiked to $3.50 right at the cusp of Y2K - that's not a bad little return. But, then again - do you take on some risk with the RRC's of the world, or smartly margin an EOG with their stock buyback defending a 52 week low here ? Tempted on RRC, but I am going to stick with the big boys here and build some leverage... still have not seen the big volume capitualation on RRC, but I am not so sure we will... this one is real interesting. re: the Pariah of the Patch: Sarge; one more thought on the FGH shorts.For example, take the 1 Million shares short from say their run from $18 to $5 that have not covered here; that is risking a $13 Million dollar profit. If the fact that they have not covered a triple and are willing to keep $13 Million in PROFIT - riding on each spin of the wheel doesn't bring your fatal attraction addiction to a skid; I just want to remind you that you are 2 for 2 on obsession plays going BANKRUPT - Cityscape and HMAR. Superstitious ? Things happen in 3's....(VBG) - is your Gretzky hat-trick coming ?