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

To: Chuzzlewit who wrote (10749)	2/5/1998 6:09:00 PM
From: RGinPG	Read Replies (2) \| Respond to of 95453

<<TA>> The following trades I made because of technical indicators (although, without the TA, I imagine I would have eventually bought some of these based on PE's and projected earnings growth). Bought FGII 1/7/98 @ 23.875 (42% gain as of today) Bought FGII 1/12/98 @ 19.875 Sold half of my FGII 1/21/98 @ 27.875 (40% Profit in 8 days) Bought back FGII 1/28/98 @ 25.5 (32.8% gain as of today) Bought MIND 1/29/98 @ 16.5 (15% gain as of today) Bought PTEN 1/29/98 @ 12.375 (1 % loss as of today) Bought TDW 1/26/98 @ 41 (7.6% gain as of today) Bought FLC 1/28/98 @ 30 (3% gain as of today) Bought PKD 1/28/98 @ 11.75 (6.4% gain as of today) Bought EVI 1/28/98 @ 39.75 (22% gain as of today) Bought GW 1/28/98 @ 4.875 (3.8% loss as of today) Bought RON 1/28/98 @ 51.5 (5.1% gain as of today) Bought DO 1/28/98 @ 42.3125 (14% gain as of today) Bought CDG 1/28/98 @ 42.625(5.7 % gain as of today) I also have longer term holdings from '97 in some of these, but the losses would be too painful to post. I think you are more interested in the success or failure of my short term trades based on TA. My long term holdings also include: RDC @ bought(8/18/97) @ 28.5 (1/1/98=30) now 29.25 (2.5% loss from 1/1/98) MDCO @ bought (7/25/97) @ 21.875 (1/1/98=20) now 19 1/8 (4.4% loss from 1/1/98) ESV bought (9/11/97) @33 1/1/98 32 now 30 9/16 (3.9% loss from 1/1/98) My entire portfolio has a 8% gain thus far for the year. My "Short term trading" portfolio is up 21%. Actually, our investment styles and strategies seem to be very similar. I concur with your reasons for buying GLM. HBOC I'm not familiar with, but I will certainly look into it. I'm willing to accept the extra risk from failing to diversify into other sectors (although I do have some holdings in Banking/Finance). I just don't see any other sectors with valuations even close to this one, do you? Have you purposefully stayed away from the land drillers? What is your thinking on this. I'm not satisfied with my reasons for buying PTEN and GW in the face of questions about their ability to hold on to their profit margins.

To: Chuzzlewit who wrote (10749)	2/5/1998 8:02:00 PM
From: Thomas M.	Read Replies (1) \| Respond to of 95453

Arch Crawford is one of the best performing market-timers around. Either you believe in his TA, or else in his astrology. Your choice. Tom

To: Chuzzlewit who wrote (10749)	2/5/1998 10:02:00 PM
From: Czechsinthemail	Respond to of 95453

Paul, Since I know you go into some depth in analyzing the companies you invest in, I'd like to encourage you to post some of the details regarding your views of the drilling and service companies you like and why you like them, using it as an opportunity to share your approach to evaluating them as investments. The problem with a contest approach is that there is no good way to factor out luck, so the results don't really reveal that much. I think presenting some of the ways you look at companies would be of greater value. Baird