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

To: Broken_Clock who wrote (11371)	2/11/1998 10:25:00 PM
From: BillyJoe McCallister	Respond to of 95453

papaya king, been lurking here for awhile and enjoy your input. i own a thousand shares of fgii,bought at $33, with earnings being released tomorrow do you suggest i buy some puts tomorrow, and which ones. thanks, understand the earning will be release between 430 and 500 according to a post on aol fgii board. appreciate your response.

To: Broken_Clock who wrote (11371)	2/11/1998 11:24:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 95453

You people are going to give each other heart attacks. Relax! Neither NE or the OSX have broken their recent S-T uptrend and both are still above the 20 dma. It is going to be a slow rise to the top w/ stumbles along the way. Accept it. as for someone suggesting that NE had better RSI. NE has held up the best out of all the drillers during the latest decline. It was one of the few where the 50 dma didn't cross the 200 dma to the downside. It was also the first to rise above both its 50 dma and its 200 dma and is still there. The old saying is true, the strongest will bounce back the quickest after a correction. As for crude, we've seen the lows. Before we got help from the Iraqi War (possib), almost everything negative was priced in to the mkt. What's left to change psych? We might retest the low again if Iraq is resolved peacefully, but we aren't going lower. We still haven't seen the extent of Asia's decline in demand, but I believe the worst case is priced in so anything better and we have upside. as for the US, have we ever had a milder winter? How often does El Nino happen? Again, things can't get any worse than they were this winter for crude. Finally, OPEC announced full prod. Same quest-- can it get any worse? Either they continue to pump at full capacity or they cut back, leaving nothing but flat to upside potential from this. The oil mkt is a discounting mechanism just like any mkt. Traders are aware of all this information. The worst for crude is behind us. IMHO. -Lucretius