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 (3696)	11/24/1997 6:15:00 PM
From: SJS	Read Replies (1) \| Respond to of 95453

Tom, Be that as it may, IT IS VERY WELL FOLLOWED, and people who don't know anything rely on them for news, info, recommendations - sensational or not. They also command the most powerful of media informational delivery systems. The web is powerful, but it ain't TV yet.

To: Tom L. French who wrote (3696)	11/24/1997 6:21:00 PM
From: Big Dog	Respond to of 95453

Hey Guys and Dolls -- Here are some neat-o sayings that may be appropriate now. Buy when the blood is in the streets. Dig your well before you get thirsty. One man's trash is anothers man's treasure. Buy your straw hats in the winter (or was that summer?) Patience is a virtue. Plan a trade and trade a plan. Remember why you bought in the first place. If the price was good then, the price is better now. If I had just put ten million in that deal, I would be rich now. (not relevant, but I always liked this quip.) Sit tight. News Bite: Rowan (RDC) is rumored to be making a deal for 10 workboats with Chouest to be put under contract. Stopry goes that oil company operators are requesting drillers to ensure boat availability before siging drilling contracts...you see, if they have a rig under charter but can't get a boat, then there ain't no drillin' going on but the day rate continues. I see this as great news for TDW and CKH and other boat owners. Typically boats are not tied up on term contracts, they just work day to day. If this rumor is true and the trend continues it should add some earnings stability to the boat owners. One more quip: Don't worry, be happy.

To: Tom L. French who wrote (3696)	11/24/1997 6:38:00 PM
From: Alias Shrugged	Read Replies (3) \| Respond to of 95453

Ouch!! I've been hit by a truck before, but never had the sucker back up two or three times!! My humble opinion: (which will probably be incoherent as a head cold is having its way with me): 1. We had the mo-mo guys buying with us, pushing the stocks higher than they should be. Felt great having the wind at our backs!! Now, not only have the bullish mo-mo guys left, along with Funds taking profits in (what used to be) one of 1997's hottest sectors, but the bearish mo-mo guys (short sellers, hedge funds) have piled on, pushing prices lower than they should be. Anybody remember the declines last January? 2. As far as Funds leaving this sector because "all the good news is out and no upside surprise left," this is a real joke. These Companies have their 98 earnings locked up - what other sector can say that for 1998? I believe we will hear innumerable earnings downgrades (due to SEA and other factors) over the next six months in other sectors, making this sector once again attractive. 3. Saudi noises re: pumping more, etc. First, discount alot of this as pre-OPEC meeting posturing. Saudi Arabia is firing a shot across the bow to all quota cheaters. None of the OPEC guys want prices to fall; they would like to increase theur quota a little and have everybody stick to their allotment. 4. Re: All Majors stop drilling because Saudi Arabia will simply turn on the taps. Uhhhh, I don't think so. Didn't somebody just spend a bajillion dollars earlier this year on GOM leases - are they simply going to walk away from this? 5. Slower growth in SEA will impact energy demand, but just slightly (IMVHO). Also, the Majors are looking many years down the road, trying to replace reserves. 6. Fundamentals are good to look at; but if one ignores momentum and sentiment (and year end Fund selling) you still will get hit by a truck. 7. A sign of a good thread is tolerance for differing viewpoints (as long as the poster is not a complete idiot/as$%ole). scname is not being that obnoxious and will probably make some money shorting - but only because of momentum, certainly not fundamentals. For the record, I own lots and lots of VRC, NE, PKD, GLM, NORT, FGII, GW, SESI, MIND, ESV, EVI, BDI, CDG, MDCO. This sector will turn; let the shortsellers have their day. I hope to be more nimble at the next top in this sector. Good Trading Mike

To: Tom L. French who wrote (3696)	11/24/1997 6:53:00 PM
From: james paterson	Read Replies (1) \| Respond to of 95453

I mostly agree with you r assessment of CNBC ,but they do have very good credible guests on. e.g. Barton Biggs was on today. He hates the techs, figures they made a 7 yr top. Makes me wonder why I bought AMAT last week. James