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

To: SJS who wrote (2972)	11/14/1997 11:04:00 AM
From: bw	Respond to of 95453

I would think that many investors are going to be nervous holding stocks over the weekend, mainly because of the Iraq situation..This could contribute to another down day for the drillers by market close..this of course IMO.

To: SJS who wrote (2972)	11/14/1997 11:25:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 95453

We needed the volume yesterday, and we got it. We DON'T want these stocks to shoot up 3 or 4% today, we'd see selling and the L-T players would wait for a pullback. We just need to close in this range for a couple days and then we should see a pop when the technical guys like Thean get confirmation on a reversal and start buying. Look at the bounce from the correction early this year and this summer and then yesterday and today---VERY SIMILAR. The fundi's haven't changed, in fact w/ all this increased producer spending they have actually improved. Many are simply waiting for the charts to reverse. Of course by that time, you miss a 5% or 8% move,but you still make some money. As you know I follow NE in detail and the others for simple sector analysis. Take NE: Downside is probably 29 at WORST: If you're looking to buy I wouldn't be waiting. Good Luck! -Lucretius