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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 (3938)	11/28/1997 12:43:00 PM
From: PuddleGlum	Read Replies (1) \| Respond to of 95453

Glen- So I got some GLM today near the low. But the price action has not been good. Opens just below the last close, rises above the last close, now trading at the day's low. I'd call this a shooting star-like pattern if we were closer to a local top. Steve

To: The Perfect Hedge who wrote (3938)	11/28/1997 12:47:00 PM
From: bw	Read Replies (1) \| Respond to of 95453

How does everyone feel the drillers will be effected should OPEC raise quotas that precipitate a $2 price drop? I know that we are reasonably sound down to a $16-$17pb, but the short-term shock of such events could in my mind do some further damage to the sector...Monday will be a good indicator of short term trends, and I will be back once any bad news is absorbed into the market. Still totally bullish on these stocks, but twice bitten, thrice shy [thought I'd throw a 2x factor on the bitten side of the equation!]

To: The Perfect Hedge who wrote (3938)	11/28/1997 11:47:00 PM
From: chirodoc	Read Replies (1) \| Respond to of 95453

<<<<<<.Things are just beginning to look up for this group technically.I hope you jump back in soon.GD .......seems to me: 1. selling has been overdone--rig utilization is still wonderful 2. asia has a slowdown but 1/2 of the world is u.s. and europe where industry is strong. japan brings this up to 2/3 and they are starting to deregulate--so in 6 months they should be starting to hum again. 3. ASEAN countries and china may be slow but they are not stopping dead in their tracks 4. OPEC wants to maintain a fairly steady price of oil summary: this is a time to buy in if you are out, add if you have money, and hold if you are a medium to long term investor. do you agree?