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

To: Redman who wrote (6295)	12/30/1997 4:18:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

Very good sign indeed. The uptrend continues and long Stochastics across the board have shown crossover to the upside. This is bullish and indicates continued strength. The mid-day profit-taking did not hold and strong buying near close means the new found momentum remains intact. Tomorrow is the last day for fund managers to dress up their portfolio. Sure sucks to have the drillers to be the number 1 holding this quarter. But it sure make a good case when the drillers are up 30% from here and the shareholders looked back at the quarter holding to find drillers all over the place. I would start buying here if I manage a fund. Did my last switching today, switch some MDCO into GW. I suspect a lot of people are doing the same, switching between stocks in the same sector without net selling. The land drillers continue to lead the pack. It is scary to see PTEN's spread of 1 1/2 point at times today with not-so-thin volume. Some MM's are eating big pie I'm sure. If we can sustain this rally into January, look for people to completely forget about oil prices, Asia problem, Iraqi problem and all those hard-to-figure rationale for the recent sell-off. Sure like to see that day. For those waiting on the sideline, this is a good time to enter. Friday (first trading day in 1998) and next Monday (first normal day when all traders are back) will be the tell-tale days of things to come going forward.

To: Redman who wrote (6295)	12/30/1997 6:20:00 PM
From: Grommit	Respond to of 95453

This could be very encouraging for tomorrow. Tomorrow? Let's focus on 6 months from now in order to keep our sanity. I think that the boaters have more upside than the drillers and if 2 days makes a trend, the boaters have begun to move with a vengence. With HMAR and TMAR each making around $3.00 EPS in 98, the present $23-28 price is ridiculous, for example. quote.yahoo.com The supply boat companies enjoy the benefit of being one additional layer removed from the cyclicicity (is that a word?) of the drillers. i.e. Even if future oil prices were to cause the drillers to have to cut day rates to keep the rigs operating -- the rigs would need supply boats and there are less supply boats being built percentage wise than rigs -- so rigs stay operating and supply boat day rates stay solid.