Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tom L. French who wrote (3199)	11/19/1997 2:14:00 PM
From: Redman	Read Replies (1) \| Respond to of 95453

Tom, How many sectors have you seen get whacked across the board, only to see the whole sector return to their original values and then some. I do not think we have any undue influences here, other than the perception that oil sector has no future and people selling like mad. I believe this sector will bounce back and I think it will happen in a relatively short period of time. For offshore drillers and service stocks, this is where 85% of the money is going now. The big money is offshore, leaving on shore to the smaller companies. Here, rig rates will continue to rise because people want to drill now and their economics will support higher rental rates. I know this, because I am an investor in a large gas field in OK. What gets me is that MAVK and GIFI are in the markets that all the analyst say need to bring things on-line to improve. Meaning, GIFI fabricates the rigs and platforms, and MAVK supplies pipe(which is in itself yielding higher prices). These stocks should bounce back the quickest because everybody needs them. On last thought, watching most the service stocks today, I do believe the panic selling has disappeared. With any sign of a turn-around, like SLB, HAL and a few others, I believe money will flow back in very very quickly as to take advantage of these prices. I cannot believe that people do not think that there is real opportunity here and are just nervous about where the so called "bottom" is. Here's to a stabilization today with a bright future. PS: I bought more MAVK and GIFI today at mid morning. red