Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (67530)	6/2/2000 3:48:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

PTEN - "in play" - the Scoop... ...the word, scoop, rumor - whatever you want to call it: Dains downgrade on their lack of SCR deep drilling rigs is not the first time PTEN's heard this; give Patterson credit , they have not taken on a ton of new debt - in a window that just got closed to many companies here in this Fed Hike environment. But, the analysts AND the investment bankers (more important than the analysts) are pounding PTEN to either make an acquisition (GW ? who else has the needed SCR exposure that they could buy - TBDI ?), or to take on debt - buy the rigs, or ----- drum roll please: ... to maximize shareholder value & sell the company into a peak cycle environment while Nat Gas Prices are at an alltime high... rumor (they are all rumors untill its done) is NBR is/will be the suitor. PTEN - runs thru $30+ - they'll close/announce when NBR is up around $48ish come Septish - on an OSX fall rally... watch PTEN get taken out for stock - .75 to .875 shares of NBR rumored for ea PTEN share. We shall see, regardless of any takeout rumors - triple bottom - 50% upside to its prior high, now back to pre-march oilpatch rally prices ! - the selloff from Dain's comments is beyond overdone... scroll down & buy it !

To: SliderOnTheBlack who wrote (67530)	6/2/2000 5:15:00 PM
From: Jane4IceCream	Read Replies (1) \| Respond to of 95453

I hear you Slider..... Before the close I picked up more FLC, alittle ESV, alittle PTEN, some EEX at 4 15/16, alittle more BSNX at 16 1/4 Closed out my 2 day positions in COVD, ADAP, ISLD, ADIC, MOT. What a great week we had! Thanks for your ideas/suggestions. Jane

To: SliderOnTheBlack who wrote (67530)	6/2/2000 7:57:00 PM
From: ezspkns	Respond to of 95453

All/Anyone My pre-weekend rambling goes like this .... 1. Where does tech go from here? I feared exactly this week, and took profits in oilland where they were to be had in anticipation of rotation (and a NG pullback - got a side bet there doing OK). I've still been too hesitant with the money on the tech side, just not as comfortable there. I took some low-risk positions with the intent of them evolving into long term holds - which are up, now the trader in me says sell, sell, sell. But a bet on the downside - hmmm, don't know. This just could be a bear rally which takes us through the end of the month, then things won't look so bad on the 401K quarterlies which everyone looks at... THEN what? I figured that would be another weak period, but if we go into it in rally mode, Hmmm...trading range a knotch above bottom, perhaps. 2. Oilland - I added a bit of KEG and FLC today, have my PTEN from earlier in the week. Have a couple of XTO puts just in case. Where does this leave oils after the past few days? Living in fear of either another nasd leg up or down? Or will they have a window-dressing kicker over the next month? I think that is a high possibility. Problem is, market can't cave. The market caves and all long bets are history, except the gold hedges, and then you may need the COMEX kind (got a side bet there too - aug 290's), at least for awhile. All of this leaves me looking for my first REAL gainer of my speculating career. I've done extremely well, and am ready to place one or two larger bets somewhere. The next weeks shall be interesting. All IMVVHO. Thanks to all here who post and make it a profitable read. Special mention to Slider, though I don't like your style, you've flat out thrust upon us some nice gainers - no other way to say it. Bill

To: SliderOnTheBlack who wrote (67530)	6/2/2000 8:05:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

I leave the joint for two lousy days so Mrs Bull can have some carpet installed, and what do you guys do?!!!???? Rewrite the script for the "Agony and the Ecstasy"! Bargains galore eh? We'll I can't buy one single one of my beloved laggards any cheaper than what I paid, (FGH excepted <g>) Oh well, guess I'll just have to break down and buy some abandoned driller. FLC most likely. Time to go crawlin' through the wreckage. Bull