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

To: Thean who wrote (4162)	12/2/1997 9:04:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 95453

Thean, a couple of weeks ago IBD "Investor Corner" highlighted the fact that INTC and DELL had broken below their 200 dma, causing a IBD author to dolefully shake his head. Guess what led the techs up today? INTC and Dell, of course. The strong fundamentals boosted them back up. Have the fundamentals in the drilling sector gone into the toilet yet? I don't think so. Over the long weekend we read of at least two oil producers whe stated in press releases that they plan to increase capital equip expenditures in exploring for oil next year. Fear/trend/chart is what is leading the drillers lower, not fundies, IMO. I really do not believe that anything that maniac Saddam says on a day to day basis should cause anyone to change their long-term view of the drillers. The WSJ had an article on Monday about how Eastern Europe is bustling with commerce. It was noted that trucking back and forth between Russia and Eastern Europe is very busy. Just another viewpoint.. DK