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

To: Bazmataz who wrote (6005)	12/23/1997 3:45:00 PM
From: Redman	Read Replies (1) \| Respond to of 95453

I feel like somebody is just beating the shit out of me, but since my hands and feet are tied up I cannot do anything about it. WOW, when is the support going to come in. Some of my stocks have to go up 50-60% to break even. green

To: Bazmataz who wrote (6005)	12/23/1997 8:12:00 PM
From: chuck weir	Read Replies (1) \| Respond to of 95453

He indicated the fundamentals have not changed. You might call him yourself and ask your questions. He indicated he can see thru mid '98 (several contracts expire then??? and are the day rates up for re-negotiation???). Someone might dig thru the 10k's of RDC and other drillers (or call their IR dept or CFO's) to see if they can find out when their next rigs come up for re-negotiation. These time periods should be good entry/exit points on all of these stocks. RDC has a higher beta than the other drillers because of their wisdom to build spec rigs. This makes the analysts nervous as they cannot see beyond the next few days. Is $2.50 - $2.55 still good for '98? No reason to believe it isn't; the management team at RDC is 'been there and done that'---I believe them before I belive security analysts interpretation of the future. The TA on RDC (and several other drillers) are below their normal parameters and have not turned up. Volume indicators look weak too. Traditional analysis indicates don't bottom fish until the trend changes. A 1998 p.e. of 10.75 is very attractive....who knows if it will move to 8 or 6 before it goes to 16 or higher. We have seen RDC and the other drillers gap up at the open when good news appears. When it does appear will the gap be 2 points?...3 points or more? Personally....I drew my 4th ace and raised the bet.