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

To: Thean who wrote (4161)	12/2/1997 12:38:00 AM
From: james paterson	Read Replies (1) \| Respond to of 95453

Hi Thean, PDS held up remarkably well today. Although it did plunge to new lows early on, it finished down just 1.2%,the best performance in the sector. There was undoubtedly good institutional buying in both N.Y. & Toronto. Volume in N.Y. was around 40% higher than avg & the last trade was 14800. In Toronto volume was 381000 around 25% above avg & the institutions were definitely involved. There were 342 trades in Toronto, so the avg trade was over 1000. On days when there is low volume with no institutions, the trades avg only a few hundred. I almost bought some more when it bounced off the low for the 3rd time. Would have been a great day trade. I did'nt have the nerve though, because I'm too nervous about crude. I'll try to listen to the conference call. Hoping for blow out earnings on the 15th. James

To: Thean who wrote (4161)	12/2/1997 2:29:00 AM
From: Karim Allana	Respond to of 95453

<<PDS showed surprising strength today. >> I Concur with you. I have been following PDS for a few weeks now. It definitely seems to be hammering out a low. Earnings are out in 2 weeks and a friend who called their investor relations said, they had nearly 100% rig utilization. Canadian drillling activity is also very strong. PDS specializes in horizontal drilling. Owns over 40% of Canadian Market. Hit its 200 dma last week. Big hammer today on candlesticks. Go long PDS My $0.02: I think Oil stocks will most likely continue to go lower. But turnaround is near. 1 to 3 weeks, as earning announcement approaches. Look for those stocks which are announcing first like PDS. I think we will make a killing in this sector next year. Good luck everybody and happy investing. Allana