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

To: Thean who wrote (7130)	1/8/1998 4:49:00 PM
From: pz	Read Replies (1) \| Respond to of 95453

I called GLM (Global Marine) a few minutes ago, so that I could sleep soundly tonight. They say that earnings will be released next Thursday and that the earnings will be in line with expectations. They also said that rig rates are continuing to increase and that no slow down is seen or expected. Also most rigs are contracted for all of 1998. Sure didn't hear anything negative. Paul

To: Thean who wrote (7130)	1/8/1998 4:53:00 PM
From: Grommit	Read Replies (2) \| Respond to of 95453

Humble advice: I also lost my butt on various stocks recently -- not just oil. You know these stocks are going to rebound and we know that no one has the capability to call the bottom. So take a nap for 3 months and ingore the day to day crap. As long as you are not in margin trouble, open a cool one. (I know, easier said than done.) The only risk is asia meltdown causing a 3% world economy drop instead of fractional %. If you beleive it -- get out. When things look bleakest is the time to buy. (The trouble here being that they got bleaker after we averaged down. righto?) I take quiet comfort in periodically calculating my portfolio PE(ttm) (it's 15) and comparing it to my EPS growth rate. (In 2 qtrs from now it is supposed to be 19% higher than the ttm and in 4 qtrs 38% higher than ttm.) Compare yours to the S&P at 18 PE and a 7% growth rate. snoooooozzzzzzzz.....