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

To: RGinPG who wrote (10694)	2/5/1998 12:35:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Oil moving up .14-- Dow down now but OSX still strong.Good sign.We might stall if we get a pullback but not for long.GD

To: RGinPG who wrote (10694)	2/5/1998 1:07:00 PM
From: Czechsinthemail	Read Replies (3) \| Respond to of 95453

I wouldn't get on PENGr's case too much. I think he's pretty bright and much more in touch with the drilling industry than most. He may have been wrong in his recent catastrophic expectations, but he made some pretty good calls in predicting the major downturn in the fall. He forecasted major price drops and was lambasted at the time by people who thought that the drillers were going through a minor dip in an upward movement supported by tremendous earnings growth and hence good buying opportunities. I felt that way and still feel that way about the drilling companies, but the stock prices are lower now than then. The problem is you simply can't be right all the time. To his credit, he has always indicated that his predictions were just his opinion and never called himself a guru. And he has been willing to change. Perhaps his recently changed opinion will prove untimely and he will have to change it again. Baird