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

To: Terry D who wrote (66919)	5/24/2000 12:44:00 PM
From: SliderOnTheBlack	Respond to of 95453

<<SII insider selling 5000, that makes 11 sellers in the last 3 months dumping a total of 394,000 shares - >> Bingo ! - tell me they didn't feel a little "dot.com-ish" considering they are making fractions of the money today that they made at the peak of 97-98 - the last time they were near this price level. SII BJS & CAM were begging to get shorted imo. SII is unquestionably a great company; but with present earnings - and at $88-90ish; where the hell would you value it in the next 12-18 mos as the cycle matures ?...it's PE was what ? - 80-100? The next 2, even 3 qtrs were virtually completely factored into the price in any reasonable valuation imo. Now wonder they dumped... SII CAM & BJS all got a little ahead of themselves - analyst's couldn't realistically raise price targets with their present earnings - given the multiples they'd have to assign. Now FLC - with those jackup rates ramping.... hmmmm; I mentioned a factor in a post a while back; about the 6 weeks back in 1998 when jack up rates went from $20k something to $40K - in just 4 to 6 weeks in the GOM ! Deja-vu all over again for the Dirty Bird...once this GOM dayrate ramp is confirmed in the Q2 reporting - the drillers become the oilpatch darlings & the mo-mo plays again and the Daytraders will return. Grab your fav' GOM Jack up play today and on any & all weakness.... there's only one choice and its an easy one imo - FLC; lagging RDC ESV NE MRL compared to prior cycle valuations - has the highest EPS leverage, the most stacked rigs to bring to market, largest fleet etc... Crude popping today - cant afford to wait for the potential Fed selloff with this news of dayrates ramping imho - adding FLC -L-A-R-G-E today - now "tripled" my prior holdings today... may even buy more if this sits here... This is a solid base - has to make a run on $30 as this dayrate news starts hitting... I should just shut up and pray it breaks $20...(VBG) - outta here.