Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bw who wrote (5591)	12/18/1997 11:34:00 AM
From: RGinPG	Read Replies (2) \| Respond to of 95453

I also have an incredible urge to sell all and go to cash. Usually this is very good for the market, but lately nothing seems to help. I've gone from a 50% gain in the drillers (MDCO, GLM, FLC, NE, FGII, MIND)by holding for only 2mths to a 5% loss now. I was feeling like a real genius a couple of months ago. But it helps to have company. Thanks.

To: bw who wrote (5591)	12/18/1997 12:06:00 PM
From: Lucretius	Read Replies (3) \| Respond to of 95453

I wouldn't be selling any of the oil service guys at this point, we're poising for a nice rally. We've rallied back from lows and have held onto gains for a couple of days (that's a first). The big-caps (HAL, SLB, BJS) are up on good volume. I'm looking for a 2 to 3 point jump in NE on Fri or Mon. Remember, how many are waiting until this sector finds a bottom to pile in. The OSX looks to be forming that bottom very nicely. The urge is strong to get out here and save yourself any more pain after riding this rollercoaster for months, but THAT is precisely why this is likely to be the turning point. The last remaining hands that aren't strong are capitulating. If you believe in the fundamentals, stick to your guns and you will be rewarded. (For that matter the technicals are starting to look promising.) Good Luck! -Lucretius