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

To: Redman who wrote (3073)	11/18/1997 2:16:00 PM
From: billie	Read Replies (1) \| Respond to of 95453

To Anyone Barron article is depressing but they have been known to be wrong and also change their minds. I remember all the negative articles on Merck when it was in the 60's. Thankfully I looked at the value and didn't sale. Now I own GLM and MIND. Both look good going forward, both have low pe's and MIND has no debt. When I hear something negative from the companies themselves then I'll worry. Corrections happen but if a stock is fundamentally sound it usually comes back. This is just my opinion and I could be wrong. Billie.

To: Redman who wrote (3073)	11/18/1997 2:46:00 PM
From: james paterson	Respond to of 95453

Red, PDS is down more than the average,but it looked like it started to turn up about 1/2 hr ago. I took a deep breath & bought some more. I talked to their IR this morning & all 206 of their rigs are contracted out. They are going to beat earnings expectations when they report on Dec. 19. Eventually this profit taking will end & if the price of crude does'nt tank we should have a good run back up. James

To: Redman who wrote (3073)	11/18/1997 3:05:00 PM
From: Thean	Respond to of 95453

Red, took a quick look for you on both MAVK and GIFI. Look like supports can be found for MAVK around 27 and GIFI around 25. They are trading at the lows of the BB but are not out of it so they may continue to decline. I would not put all you have to buy at the end of today. Keep some cash just in case things go down further. Another strategy is to set a buy stop. If things begin to snap back strong by the close today, your stop will trigger and things should open higher tomorrow due to the momentum carry forward. Sell then if you want. If they keep sagging, then your money is safe. But if you are going to hold for at least 1 month, then it is pretty safe to buy here. The downside from here is 20% limit but the upside is >20%. So the risk/reward favors going long right now.

To: Redman who wrote (3073)	11/18/1997 3:22:00 PM
From: Shane Venem	Respond to of 95453

I'm not a TA guy, but on the Tuesday following Blue Monday, GIFI hit 24 split-adjusted at the height of the selling panic. I figured that might be the low if the stock came back to retest the lows. So far, that figure has held. -Shane

To: Redman who wrote (3073)	11/18/1997 4:31:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

So Redman, what did you do? Did you buy at near the close as you wanted or waited it out? The drillers closed weak today. The candles have not turned either. Well folks, the sentiments have turned very very negative. Want to be a contrarian? Backtesting since early this year, short term bear cycle tends to last 5-6 weeks. We are in the fourth week now. The worst is two more weeks of bearishness and then we are really into ultra-oversold. May want to sell your farm and bet on the rebound at that time. Reward/reward equation has improved since last week BUT we have not made the turn yet. Pay attention to the day when the close is higher than the open. That is the day sun shines through the dark cloud. Remember you hear it here here first.