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

To: Czechsinthemail who wrote (6619)	1/5/1998 2:06:00 PM
From: The Jedi	Read Replies (1) \| Respond to of 95453

I am with you on the fundamentals. Fundamentally I am bullish on this sector (nothing like strong earnings, better than most techs banks etc), technically I am short to medium term bearish. I just find it amusing that a lot of knowlegable people here would trade other sectors on a technical basis but are blind sided fundamentally not to see that there is a technical correction going on which has to see a bottom forming probably for another few weeks or at least as long as near term oil futures are going down. Kiri

To: Czechsinthemail who wrote (6619)	1/5/1998 2:11:00 PM
From: SJS	Read Replies (2) \| Respond to of 95453

Here's today's problems: (lower oil prices previously mentioned): 13:35 ET Short Candidates: On "Wall Street Week With Louis Rukeyser," highly-regarded Prudential Securities Managing Director Ralph Acampora recommended selling short oilfield services concern Tidewater (TDW 50 5/8 -2 7/8) . 13:22 ET Oil Drillers: Industry stocks continue to take it on the chin, as investors pay close attention to oil prices, concerned that prices might approach a level that would prompt the major oils to cutback on drilling activity. Today, the February contract for West Texas crude has fallen another 32 cents to $17.11. Also, Schroder & Co analyst Michael Mayer reduced his spot crude price forecast to an average $18.00 per barrel for '98 from $19.00 per barrel. Notes that there is substantial risk that oil prices will drop into the $15.00 per barrel range during the Q2 unless OPEC reduces production.