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

To: Post_Patrol who wrote (62334)	3/17/2000 10:43:00 AM
From: SliderOnTheBlack	Respond to of 95453

Post Patrol/Cliffie... I think the buying opp is gone, but a pullback is in the cards Cliffie; I sold into the prior run and traded In & Out of individual plays, bought and kept some real value - that looked bottomish, or actually re-tested the bottoms like the Integrateds, mini-majors & E&P's. There weren't any OSX names retesting any bottoms anytime soon (VBG)- so I grabbed all the FLC GLM I could here; as these two looked the the drillers with the best balance of value to upside momenteum. I felt I could NOT pass up this retracement to get back on the OSX train; I thought we would get a real nice pullback-buying opp in the OSX prior to the OPEC meeting - but where we agree to disagree is only on the timing. I understand your thinking - I just think you missed it. Personally, I am not maxed on margin; so I really dont care if FLC, or GLM pulled back another $2, $3 from where I bought here of late, as I would simply margin to buy there. I wont chase 1/2, or even $1-$2 moves lower - like today; but instead will sit for a meaningfull discount, or pullback from these prices. I dont think your going to see your OSX 85, or now 90; that 95-98 range looks pretty damn nice support imho. The primary reason I didnt wait to pull the trigger is because of the way crude oil is acting here. We only have SIX/6 trading sessions in crude oil prior to the OPEC meeting folks !!!!!!!!!!!!!! That crude has not been discounted in the futures markets down to $24-25 - which I thought it "could" do; is extremely bullish for the Oilpatch and for trading here. Cliffie - I think its "Deja Vu all over agagin" post the OPEC announcement - the market just wants the numbers from OPEC on the new production quota's, their ideal price band levels etc - once the info is out - we rally just like we did last year . Maybe only 20% in the OSX, but 35-50% in the E&P & Small cap side imho. I cant wait... PS on FGH: labpuppy.com Will at Lab Puppy had some interesting comments on FGH here: <<Merrill Lynch suspended its rating on Friede Goldman (FGH) until the company holds its quarterly conference call on April 6th. This call had been originally scheduled for today but the company delayed it in order to get its 10-K out to shareholders. Hmm... I wonder.>> Again; there is so much fundamental value and upside - prudence is rewarded here and risk is highly penalized. FGH is not investing, or trading here - it is gambling. I went back in anticipating a break out rally back to resistance at $7/$8 in anticipation for an "All Clear" & good news, new order ? from Holloway - but folks; when MERRILL - SUSPENDED their rating - that speaks volumes. Caveat Emptor ~ The "why bother" yellow flag is back out on FGH...