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

To: Evan Dimmer who wrote (8161)	1/15/1998 7:35:00 AM
From: Thean	Respond to of 95453

Ed, I don't follow TCMS. By looking at its chart, it is so bad if one doesn't know its business one would have thought this is a fly-by-night Bre-X in the making. It is even worse than BDI. What is its 1998 full year earning estimate. I can't imagine it can command a PE of >10x 1998 FY earning in this environment. The market has no mercy whether it is an IPO or no IPO. It should trade similar to its peers. We have seen that for all land drillers, tube makers, fabs, and so forth. 1998's also-runs (other than off-shores) are no longer hot. So that leaves us is to wait for the trend to turn. TCMS needs to see its price move above the mid-BB line to get investors excited again. Very sorry. About Iraq - don't think about any air strike until Feb because it is Ramadan right now. The US airmen may not fast but the Iraqi and its neighbors do.