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

To: The Perfect Hedge who wrote (10003)	1/28/1998 3:18:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 95453

Glen, Talked to Tom to find out what the market did the last time we had a conflict with Iraq. At that time the market had corrected down below 30% before the conflict began. Also, all of the sectors were below the 30% as well (this includes oil and oil service). When the war started, the market dipped for a short time and then spiked up. Now I have to mention with it being below the 30% level before hand it was primed to do so anyway. The oil sector spiked from 10% to 40% then had a brief respite until it spiked to 70%. The oil services followed as well. Right now our overall market indicator is at 54%. This isn't in as good of a position as below 30% but it is better than being at 70%. I am not going to assume what will happen. I just follow the indicators and right now oil serv is looking like it has found its bottom. A lot of sectors have come down below the 30% level and have already reversed up. The market has a lot of opportunity out there right now and not just in oil service. Follow the indicators Glen. They will tell you what is going on. Jan