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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (18863)	9/15/2002 11:14:10 AM
From: Frank Pembleton	Respond to of 36161

Andrew... chart wise I agree, I personally don't like buying when the pressures on. I always, without exception buy a quiet market! And about the safety of the dividend, they have $1.3 billion in free cash flow, a debt/equity of only 50%, the backlog went up a 1.6 billion dollars in the past year to 46.7-- and they've just recently announced guidance for next years net income which is (revised downwards) $0.70 a share. ...and my favorite contarian indicator is the analyst recommendations -- there isn't any. The best I can find is a hold - and a whole bunch of sells -- and I sure the sellers are becoming more rare if not extinct (near term). ...patiently sitting on the sidelines. Regards, Frank P.