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

To: The Perfect Hedge who wrote (6467)	1/2/1998 1:29:00 PM
From: Thean	Respond to of 95453

Today's earning morning pullback is quite easy to understand - people wanted to book their gain and not pay tax for another year. In this high anxiety market and thin volume market, things become very transparent. What amazes me is there is dead volume after the first hour and things are not continuing to go down. Dave is right, we have to wait till the close to see a better picture. If the drillers trade within a +/- 10% window for the next week, I'd be very happy because this will allow a nice base to form and allow technical indicators to go through a "smooth" inflection and begin to trend up for longer term. GD, if we see some serious selling Monday, I would not get back in as eagerly. Buying on slight dip is for traders only. I'd move aside for better clearing before moving back in. GD,