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

To: Big Dog who wrote (10813)	2/6/1998 8:47:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 95453

I would not be playing around w/ selling calls at this pt. You're likely to miss a huge move and get called out. The premiums on calls have declined signif. for most drillers as well. The time to sell them was back in Nov and Dec. To do so now is behind the curve. I saw this over on AOL so I want to set it straight: NE does not have another conversion to report. They will be reporting in the next couple of weeks that they are reactivating the Shelf IV semi. It will need some refurb cause it's been stacked, but should bring in 160,000 plus and should drop about .20 to .25 to the bottom line. This is not in the analysts earnings models yet. You do the math. -Lucretius

To: Big Dog who wrote (10813)	2/6/1998 8:49:00 AM
From: stevedhu	Respond to of 95453

Big Dog you be in the hill country or down here in Houston? chron.com Go to business then to "Asian Anxiety; Slump cuts region's oil demand" Are any of these word's to big Mr. Big Dog? Take Care Ya all Steve

To: Big Dog who wrote (10813)	2/6/1998 9:18:00 AM
From: SJS	Read Replies (1) \| Respond to of 95453

Big dog, Because he bought at 45, held it as it rose up to the current levels, so he's now got a profit (someone else's money) of 3 5/16 (here's the math: 48 5/16 - 45). If he also gets 1 dollar of call money from someone else, he has NO losses until the stock falls under 44, which is his original entry point (45) minus someone else's money of ($1). Below 44 is where the losses become HIS money. You can look at using calls to protect your profits from loss, but it narrows the bands and lowers the returns. It's not the correct way to figure it. Using PUTs directly for large gains is more appropriate.