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

To: Lazlo Pierce who wrote (12423)	2/22/1998 3:56:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Eventually this sector will come back but not till oil stabilizes and we're going to really drop fast and there's not much on the horizon to bring us back up.IMO,this is the beginning of something really bad for this sector. You say someone has to take a stand but that's not true.Watch oil fall to 14 and E&P's cut back and all the sudden we have revisions downward in osx est's. I'm thinkning about a bounce back in a couple of years.GD

To: Lazlo Pierce who wrote (12423)	2/22/1998 5:58:00 PM
From: Chuzzlewit	Respond to of 95453

David, I think your experience illustrates in dramatic fashion what I've been trying to get across here. Trading and trying to time the market doesn't work. If the sector looks good for the long term why get out? Sure, I know the temptation. I was (and still in) Dell, and it sure is scary to see the price drop by about 25% in a few weeks. Seems to me that the most critical asset an investor can have (along with a cast iron stomach and a good supply of Maalox) is patience. Regards, Paul

To: Lazlo Pierce who wrote (12423)	2/22/1998 11:13:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 95453

David, we'll know on Monday what happens, but I'm not at all sure that there will be a bloody sell-off back to the Jan. lows. The reasons: 1) Is a "no-war" deal necessarily a big negative for oil sector? I don't think so. War would have undoubtedly caused a short-term spike, but I don't see the catalyst for a big "bad news senario" sell-off. 2) If investors were really fearful of a diplomatic solution, I think the sector would have sold off much more on Friday. As it was, there was weakness in the morning, but for the most part the drillers etc. had a pretty solid day. 3) This latest Gulf-standoff with Saddam may just turn out to be a non-event for these stocks. These stocks have absorbed an awful lot of pounding due to the falling price of oil, but oil seems to have stabilized a bit. Moreover, most of these stocks are showing real solid strength from a TA and P&F point of view. Of course, who knows. I've learned long ago that stocks can always go lower. But I'm going to hang in here long, and maybe I will also add to my positions as opportunity presents.