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To: Big Dog who wrote (88790)	3/18/2001 7:40:46 PM
From: Second_Titan	Respond to of 95453

? El Perro Grande 6 feet tall & bullet proof? Looks like it may be time to cover my NE short.

To: Big Dog who wrote (88790)	3/19/2001 8:56:00 AM
From: SliderOnTheBlack	Respond to of 95453

Big Dog... The only thing missing from Dain & Lehman's updates - ... are upgrades to 2001 and more importantly - 2002 eps numbers & price targets. The $64 question is given the glowing reports on KEG, NBR, NE, et al - why are the stocks pulling back & are those positive contract rollovers allready not reflected in present estimates/numbers and valuations - given the 60-90 PE's in many OSX stocks ? ... we need to see the OSX stocks just blow earnings estimates out of the water & to do it soon & then for analysts to dramatically increase 2002 numbers & price targets. Untill they do that & not just pound the table; but get up atop the table with a lampshade on their head & scream "BUY BUY BUY" at the top of their lungs - the Institutional Buyers who exited at OSX 120 nearly A YEAR AGO (ie: OSX 120 in April/May 2000)will continue to exit prior to cyclical rollover as they have allready done for the most part & are continuing to do here. SLB BHI & HAL were allways primary indicators of rollover; the offshore drillers are often the last to fall & fundamentally & cyclewise they should be; and the land drillers fall hard & sharp prior to offshore driller rollover & the recent break (finally) of the land drillers here should NOT be taken lightly - as "THAT" is a traditional exit-warning for shareprice peak in the OSX cycle. We shall see... Maybe this is just the traditional mid-cycle shakeout given all the economic slowdown risk & the NASDQ bear etc... but; that is another point - the Asian Contagian & Demand weakness(not supply)triggered the last OSX cycle "shareprice" rollover & in case no one has noticed - we've got more than a little "Deja Vu all over again" - working there presently... Not an easy market & imho - the best offense remains a good defense in this environment...