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

To: Thean who wrote (4158)	12/1/1997 10:17:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Thean- I noticed a couple of stocks broke their 200dma today.That usually spells bad news.Is it typically a free fall after that ma is broken?What is the next support area?GD

To: Thean who wrote (4158)	12/1/1997 10:32:00 PM
From: Platter	Read Replies (1) \| Respond to of 95453

My point was not to ridicule the charts but to point out that regardless of what the chart says, the big players are working aginst you...they are doing things (lets leave it at that) that your charts won't help you with. My point is don't follow a crowd up the hill or down the pits, use your brain....always try to be one step ahead of "them"...whether with tecnical or fundamental or both. Buying when a stock moves up doesn't allow you to sleep better at night, check out excerpt article "Posted 11/25/97 By Jim Jubak "I think of a simple price/volume chart -- the kind we offer here on Investor -- as a visual representation of investor psychology. For example, and simplifying grossly, if I see a stock that traded at $30 and now trades at $20, it's pretty easy get inside the heads of investors who hold that stock. Some investors will be underwater -- how many depends on factors such as how long the stock traded at $30. They fear that the stock will go lower, but they haven't bailed out yet. If the stock stays at $20 long enough for investors to get impatient, and then moves higher, it will hit what chartists call resistance near $30. Many investors who bought at $30, rode the stock down to $20, and then rode it back up will heave a sigh of relief and sell when they have a chance to get out even. That selling at $30 will make it hard for the stock to move higher -- at least until the supply of sellers at that price dries up. What happens if the stock climbs to $25 and then starts to slip back? A few fearful investors who bought at $30 will sell, figuring that half a recovery is better than none. Some who bought at $20 will sell, glad to take a profit. At $20, again, the balance can tip either way. Will more investors sell, fearful that the stock will drop further and frustrated that they didn't get out when they had a chance? Will new blood start to buy? A stock poised at this point is testing the low to see if it will hold. If the low doesn't hold, a stock will often fall to the next-lowest price level where, historically, major buying occurred (what is called a support level). If a stock tests that low and then starts to climb, the upward momentum often gets an important boost. Investors are at least temporarily convinced that the stock won't fall below that low and that buying at this price is therefore safe." Happy trading Thean

To: Thean who wrote (4158)	12/1/1997 10:53:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

Anyone notices DO and RIG are at about the same price now around 45-46? I don't recall DO trading lower than RIG in the past year. A few months back I remember people were discussing which deepwater drillers to buy if one were to buy only one. My thought then was RIG since RIG appeared to have stronger earning prospect going forward. Well, well, the market seems to confirms that as DO has corrected more. So which deepwater would one buy right now? I have DO earning $3.17 12/98 FY and RIG $2.90 12/98 FY. I would buy DO over RIG for now and consider switching them over if the gap between them widens again. FLC/RB held up well too - this appears to point to the buyin for combination synnergism. They should qualify as drillers with strong support here. PTEN has the cheapest valuation in the land drillers. For high beta lovers, PTEN is likely the CDG (shallow water notwithstanding) of this year going forward. NBR held up pretty well too. We may get a chance at GW for $5 again. Another high beta and shallow water play - MDCO. MDCO actually has one deepwater rig. I would play MDCO over CDG because it has corrected more and MDCO has bigger swing lately than CDG.