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

To: Swede who wrote (9794)	1/26/1998 7:15:00 PM
From: Lee Fredrickson	Read Replies (1) \| Respond to of 95453

Swede: <Newbuilds> Seem to recall you're down near the Gulf, heard who might get this work? biz.yahoo.com Lee

To: Swede who wrote (9794)	1/26/1998 8:24:00 PM
From: Thean	Respond to of 95453

Swede, great 5 yr PE information. It's clear from this perspective we are darn near the low, but not at the low for most of the drillers. However, we are right there near the low if we're talking about projected 98 full year PE. Either way, there is some historical support level to be found from this info. Now about some TA. A week or so back someone (Ron? Ed?) mentioned about the increasingly shorter interval between top to bottom in each short term cycle since Nov. See: 207.95.154.130 According to this trend, In the first down phase, we had 16 down days, followed by 5 up days. In the second down phase, we had 11 down days, followed by 5 up days. In the third down phase, we had 7 down days, followed by 5 up days. In the fourth down phase (now), we should have 4 down days, followed by 5 up days. Today is the fourth day! This means we have hit bottom today and tomorrow will be the first of the five up days. Whoever first pointed this out to me, please come forth to claim credit for this. And if this turns out to be true, let's write up an article and submit it to the Journal of Irreproducible Results. Don't laugh people, what if this turns out to be true? Actually for a number of drillers and in particular the high-beta land drillers, they are very close to the lower BB. My favorite is UTI. It and PTEN are so volatile a swing of at least 20% is almost guaranteed each way. BDI may also join them if not for its law suit. GW is still capped by $5. It needs to decisively break through $5 to have more mo-money chasing it. I apologize for not calling it correct the last time, off by 1/8. PDS is a little sick. No one wants to touch it. I think the mo-money doesn't know it enough. It needs institutional money to pump it up. Last to fall, last to rise. NBR appears out of favor as the momentum play of the land drillers. KEG is also stuck. Now MDCO, it successfully retraced the un-filled gap created last week. This is good sign. CDG's power move today is going to help MDCO tomorrow if we can inch up tomorrow. My theory has not changed - that OSX is pegged to S&P and crude price. Today's strong move in crude is no more than short squeeze. Until today the prospect of any accomplishment by the OPEC ministers had been NIL. But the traders sensed something could be accomplished today. The bad news is those shorts can come back just as easily if indeed nothing gets accomplished at the OPEC meeting. I'm less sure of oil's peg to gold.