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

To: Thean who wrote (9855)	1/27/1998 2:02:00 PM
From: The Perfect Hedge	Respond to of 95453

like I said yesterday...down when oil's down...down when oil's up. I do think there could be a delayed reaction to this so buying is not out of the question.GD

To: Thean who wrote (9855)	1/27/1998 2:02:00 PM
From: bw	Respond to of 95453

Thean...In agreement. The Asia situation is really just beginning to be felt, and it seems that its impact has been underestimated. Case in point is Boeing.... One can rationalize any position, but the fact is that the funds aren't seemingly into the sector to any large extent at this time. We have seen the days when the funds ruled around these parts, and the orderly upward progression of the stocks during those times. Then, the momentum money took over and ruined our rosy picture. Hopefully this is a new base being built by smaller investors looking again for value...and this is the situation that we were in a year ago, with very positive results until Oct...

To: Thean who wrote (9855)	1/27/1998 2:06:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

Thean, I think we are seeing the negative psychology toward drillers played out in lackluster price performance while oil prices climb. Part of the problem is that, as both analysts and CEO's have been telling everyone, the drillers are capacity constrained. Rising oil prices should reassure people that drilling will continue with virtually 100% utilization and that dayrates will remain firm or increase. But comparatively, there is more marginal impact on the E&P companies when oil prices rise, since they benefit more directly from the price increases. If the market remains firm, I think we will see renewed buying in the sector simply on a bargain-hunting basis. There simply aren't very many opportunities to get anything like the growth you can find here with such a high degree of predictability. Firming oil prices simply make that growth somewhat greater and somewhat more predictabile. If not before, once a few more earnings reports and upgrades come in, I think the stocks should take off. I don't think we have much of a downside risk from here. If oil prices come down, the momentum money that has gone toward producers will likely shift back into drillers as a more predictable play. Baird

To: Thean who wrote (9855)	1/27/1998 2:31:00 PM
From: Bazmataz	Respond to of 95453

I maintain that part of the problem is that earnings season is not yet over. Real money probably won't start coming into this sector until more is KNOWN. Now, much is still UNKNOWN, with many companies not yet reported and/or commented on future and oil prices and continued exploration expenditures. Also, earnings still have yet to be known for some other sectors. Once more is known, money will start looking for the best places to go. Once all is out and a review is made, I think money may start coming back to these stocks. Until then, the trend should continue. Agree?

To: Thean who wrote (9855)	1/27/1998 3:07:00 PM
From: Jeffrey Beckman	Respond to of 95453

Thean, The IRQ stochastics somehow were perched ominously a few days ago relative to recent peaks. Don't you think the drillers needed a little basing prior to another move up, just to move away from being technically-challenged? Otherwise, they'd be overbought in no time? Or is IRQ completely off these days? Thanks, Jeff

To: Thean who wrote (9855)	1/27/1998 4:03:00 PM
From: Bazmataz	Read Replies (4) \| Respond to of 95453

(ot) Thean and bw: Are you buying or trading anything here? I've declared some of my positions and am out of ST trades right now. What are you watching on ST trading basis? Not enough movement over last couple of days to make some $$ on day trades. Are you having any luck anywhere? BC