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

To: The Perfect Hedge who wrote (3665)	11/24/1997 3:52:00 PM
From: SJS	Respond to of 95453

Glen, You're lucky to have options. You're loss is known in advance. With stock, it is a much different beast. PS: I just made it a little easier to sleep, myself. There is no let up on the ASK size. Too much stock coming in for sale and no buyers.

To: The Perfect Hedge who wrote (3665)	11/24/1997 3:54:00 PM
From: 18acastra	Read Replies (4) \| Respond to of 95453

Why doesn't anyone talk about fundamentals as opposed to technicals/selling pressure. Either you believe in long-term fundamentals for oil patch and therefore stocks are cheap, or you don't and should not invest in sector. Granted, it is important whether or not Fidelity is buying or selling, but only because of the enormous pressure put on the market by the amount of stock they move (as opposed to if Fidelity is selling there must be something wrong - they are probably a good contra-indicator). If one believes that over the next few years a lot more holes need to be punched in the gorund, that these stocks are all dirt cheap. Some factors that could change the overall bull hypothesis include: 1) Slowdown in Pac-Rim growth slowing demand for oil 2) Saudis turning on the taps and flooding the market (unlikely) 3) Rig availability 4) Capital spending by major companies 5) Numerous others Fundamental discussions of this nature are infinitely more valuable than a bunch of people sitting around trying to read charts. The real money made in this sector was made by people who took a fundamental bet (not a chart bet) a year or 2 ago when a lot of stocks were 20% of what they are now. Does anyone out there care about fundamental investing anymore? My opinion.