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

To: Thean who wrote (4543)	12/5/1997 3:52:00 PM
From: bw	Respond to of 95453

Looks like Grey Wolf just had a 100,000 share buy @ 6 3/4 -10 minutes before market close..a good sign for next week... Have a great weekend all.... WOW...another 100,000 shares just crossed @ 6 3/4! That's 200,000 shares bought in last 10 minutes of trading!!

To: Thean who wrote (4543)	12/5/1997 3:55:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

I went for some GW April calls just to get some leverage. Premiums are almost non existent(3/4 point for in the money calls). I think I'll just let them ride till then and excercise the stock.I expect it will be back around 10 by then. Should be able to tag one maybe two earnings reports.

To: Thean who wrote (4543)	12/5/1997 10:02:00 PM
From: Nancy	Read Replies (1) \| Respond to of 95453

Theon, take a look of OSX (Oil Service Index) open interest for both call & put, both Dec & Jan 206.7.107.50 tell me what you think. lots of transaction on the put side for Jan series today. Also open interest is much much larger than call side. In equity option I would say it is contrarian, but in index, esp over 1/2 of the components of OSX are easily manipulated i.e. RON is the 2nd largest component ... there are rooms for playing games. thanks for your view.

To: Thean who wrote (4543)	12/6/1997 3:13:00 AM
From: Theodore Stullich	Read Replies (1) \| Respond to of 95453

Thean ... In your post to Heyward on Nov 19 (#3254) You had a pretty neat table that was helpful to me. Would you please run the numbers again, updating them and including a few more companies like in the energy services end of it (e.g. VRC, TDW, HAL, SLB, etc.)? Also could you explain what you meant in your observation #4 re "coherent valuation/perceived valuation"? It seems obvious that a rising/falling tide raises/sinks all ships with the drillers. Nevertheless, shouldn't we be focusing more on selectivity, weeding out some of the weaker speculations? How can we best do that? Thank you.