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

To: Big Dog who wrote (2772)	11/6/1997 4:12:00 PM
From: SJS	Respond to of 95453

Mike, Sounds like a plan. Do you have any opinion on either ESV or EVI at this time. Would be interested in hearing your thoughts, if any. PS: I've been playing with option volatility numbers, and have found some interesting sites. Stay in touch with me on this as we move forward.

To: Big Dog who wrote (2772)	11/6/1997 6:15:00 PM
From: dave katragadda	Respond to of 95453

Mike, do have some knowledge regarding recent IPO DRQ - Drill Quip. It is a Houston co. Also what drlling stocks still look reasonabel? hank you

To: Big Dog who wrote (2772)	11/6/1997 9:05:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

About investment discipline in the drillers... (Mike, couldn't reply via e-mail, service broken) Mike, one approach I find particularly rewarding is to manage my drillers positions by keeping a mental picture of risk/reward or upside/downward probability on a daily basis. Yes I do try to time the beginning and end of each short term cycle by using Stochastics and BB in particular but it is harder now because of the involvement of big momemtum money. It was much easier earlier in the year when the drillers were less discovered. Having said that, I still think the short term cycles will continue. One needs to understand the conditions when TA works best and when it doesn't work (e.g. in panic selling and over-exuberance situations). The basic assumption of all TA indicators is that the stock price move in a rational fashion within a set logical boundary. Since the beginning of the year, I found trading the drillers to be more rewarding than buy and hold by >20% todate (used to be closer to 50% at one point). Yet, this is hard work and requires daily 1/2 - 1 hours reviewing daily price movement and TA charts of a list of drillers. I have gotten used to it but it can take a toll in terms of time involvement. The real key is still discipline. I take small losses early and hang on to the bullrun as long as possible (setting daily stop is the way to do this but I also got stopped early recently). If stopped out and the trend continues, buy back immediately and don't fight the trend. At the end of the day, it is the profit that counts, however big or small. I find emotion to be the devil that raises hell with one's own judgement. This is an old saying but it is so hard to do 100% - "stick to one's own system." Good luck.

To: Big Dog who wrote (2772)	11/7/1997 11:22:00 AM
From: dave katragadda	Read Replies (1) \| Respond to of 95453

PNDR is a small stock worth buying. They recently bought a fishing tools co. This stock was at $5 in 1996. Good volume recently. Pl. comment.

To: Big Dog who wrote (2772)	11/8/1997 11:47:00 AM
From: Bill Li	Respond to of 95453

Mike and all' Soloman Brother maintains their hold rating on CKH. They think that the near term outlook for SEACOR is quite favorable, as day rates continue to climb. However, they are concerned that rates(surply boats?) have reached replacement cost pricing, and there are significant increments of capacity being added while the number of drilling rigs being brought into service is limited. What do you think of their "concern"? Thank you inadvance. Bill