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

To: Tommaso who wrote (94284)	10/22/2001 9:10:22 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

OK, I'll take the bait. Back to drilling. I suggest looking at GRP and PTEN as 2 potential investments in the patch. PTEN, the 2nd largest (based # of rigs) NA land based driller is the result of the merger between Patterson and UTI energy. The stock has fallen substantially from it's highs since it's rig usage and pricing is based on demand which has fallen with the drop in NG prices. With NG in storage at the highest levels in years, it's understandable that the commodity price has fallen. At the same time, the depletion rate for NG wells is also at an all-time high and therefore we must continue to drill for new sources to keep up with the steadily increasing demand. This year we've seen a blip in demand due currently to the recession and previously due to unusually high NG prices earlier in the year. A cold winter which could bring on higher NG futures prices should light a fire under this one. GRP, Grant Prideco. Relatively new to the NYSE, GRP was spun out from Weatherford (WFT). GRP is the world's largest supplier of drill pipe and other drill stem products, as well as a leading North American provider of high-performance engineered connections and premium oil country tubular goods (OCTG). They are highly dependent on the number of wells being drilled for their product revenues, so as the drilling rates soared and the number of rigs started to decline, this company has been sold off sharply. Anyone care to discuss the pros and cons of these 2 companies?

To: Tommaso who wrote (94284)	10/22/2001 9:32:57 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Tommy-boy... Unlike "YOU"...I haven't owned gold for the last 10 years when it was a bad investment. I made my first portfolio weighted move to gold in the october/november cyclical capitulation; which was the single cheapest 60 day window in modern gold stock history. "Some" of us weren't allready down 50% like you; from riding an inopportune multi-year/decade investment in gold. "We" are not "goldbugs" - we do not, have not and will not - "allways own/hold gold/goldstocks" We saw an equity bubble collapsing, we saw a US Dollar that has caught Greenspan in a Catch-22 jam; we saw the need to re-flate and ramp money supply - (all good for gold) and we saw a secular & cyclical capitulation in gold and gold stocks - very similar to the $10 Oil/OSX environment of late 1998. "THAT" Tommy-boy is why we are in gold stocks and why we made a counter-cyclical contrarian play. "We" saw and still see gold stocks for what they are...a cyclical commodity sector and a flight to safety haven....one that has also been artificially depressed via an exponential rise in derivatives/short positions as well. And "WE" unlike you - made the correct timing call on when to rotate to gold on a portfolio weighted basis. My call was about rotating from "Black Golds Top - to Yellow Gold's Bottom".... I called it, I did it and the charts posted today say it all... Your sourgrapes and feeble attempts to refute what the 30 day, 100 day and 52 week charts show is reality... are getting pretty damn lame-o... To-mass-o. PS: how did all you TA guru's miss this gift horse 30-50% trading pop in OSX stocks on "THE TURN" at OSX 58 ?(roflamo)....refute that "call" To-mass/No mass-o... PS: you guys got your wish and got the thread back... and when you were handed the ball... you blew the call ! ...again. later.