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

To: Bazmataz who wrote (8256)	1/15/1998 2:34:00 PM
From: Thean	Read Replies (5) \| Respond to of 95453

Barry, me too think we are at a crossroad and people are really not sure which direction we are heading next. Sold the PTEN I bought yesterday for an unexpected 1 3/8 gain. This is how nervous I'm. I recommend setting stop for any gain you have to keep it. BW - what are you doing with your itchy fingers these days? Surfing? OPEC - they are a weak organization. Sure they hate to see crude below $17, $16, $15, but they are only paper tigers these days. Any unity accords is structured to be violated by many members to raise hard cash, whether it is $14, $13, $12. If OPEC is not selling, non-OPEC will sell. Crude is based in US dollars. To the Indonesians (an OPEC member), US $12 can probably buy as much as US $24 last month . So they will have to keep pumping. If energy price is going to pull us out of this slump, it will be the natural gas and not the crude, IMO. Heyward - since you are going out of the country. Reduce your risk. If you break even today on GLM, consider reducing your risk. Your Mexico trip already caused your heart to skip a few beat when you reached home. I had a 30% drop in my equity the last time I left the country for 1 month.

To: Bazmataz who wrote (8256)	1/15/1998 5:08:00 PM
From: Rosemary	Read Replies (2) \| Respond to of 95453

Barry, I saw that interview this morning, and he sounded very truthful, as did the CEO of FGII when he was on a few of weeks ago. It's all in the price of oil and the perceived demand. They both said the same exact thing. Should oil prices stay this low, eventually it won't be worth it for the drillers to drill. So the major question is, will these prices stay this low? HA! Elephants will be flyin and the toothfairies will be dancin in the streets, before I could believe these prices will stay this low, or get lower for the long term. Eventually the news will get better and we'll be ready.