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

To: SliderOnTheBlack who wrote (66495)	5/18/2000 11:28:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

From Lehman this morning: (they also raised the 6-12 month target for KEG to $17) * We are raising our North American drilling forecasts on the basis of a sharp increase in our natural gas price estimates this year and next. * We are significantly increasing our 2001-2002 EPS estimates for natural gas sensitive offshore and onshore contract drillers. * Despite their continued strength, we continue our overweighted position on the group.

To: SliderOnTheBlack who wrote (66495)	5/18/2000 1:37:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Laggards such as KEG, UFAB, PKD and HOFF holding up well today. However, I raised some cash just in case we get some good values with the OSX selloff. Now about 10% cash (the highest I've been in a year). Bring on the correction because I would love to load up again. I'm still very bullish long term and I don't plan on timing every single move, but I will protect my gains here ahead of the OPEC meeting in June and lofty valuations in OSX leaders. Sold most of my calls for safety and liquidity. The lagging small cap E&P's should weather any OSX, XNG, overall market correction pretty well imho. Not a bad place to hide out until the storm blows over. The only problem is liquidity if you want to exit. EEX and EEE are my main small cap E&P plays right now. EPEX looks good too.