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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (992)	2/22/1998 10:16:00 PM
From: ChrisJP	Respond to of 29382

Hola Sergio ! Los Tres Amigo -- Que bueno nama ! I had no idea that you guys had this thread here. It is now bookmarked ! Doug was kind enough to post his thoughts on NORT on the 56 thread this weekend. I really thought the market would react positively to NORT earnings -- but they didn't. Not a good sign IMO. However, looking at the high volume on Thursday with no price movement, it may have reached bottom. Key Energy (KEG) and Pool Energy (PESC) also have shared the same fate. Key and Pool are better known than NORT and have been acquiring smaller oil services companies. Of the 3, I only own NORT, because it's the only one I knew about. I'm more of a technology guy; I've never invested in oil services. I have only been in NORT for a month. The Yahoo message board has some good posts, which led me to Key and Pool. My advise if you want to invest is to take a small position. Then, every 2 -3 weeks, find out how many of the 16 rigs they have leased. Currently they have 15. If that number drops and stays below 12 or 13, then sell. Otherwise, continue to buy more when you feel appropriate. This opinion is based on my belief that the market has sold these stocks for a reason. That reason must be that the market believes that an oil glut will reduce demand for oil services and cause their earnings to erode. So their PEs, which look great now, won't be so hot if they start losing money. Oil service people interviewed on TV insist that regardless of the price of oil, drilling and exploration will not stop. The only thing that stops is the pumping and refining. Interesting that the insisting has not stopped the sell-off ! You'll notice this is not a short term trade/MIMBO strategy. It's an accumulate and pray for 6 - 12 months strategy. Hope this helps -- and GO APCO !!!!!! Chris

To: Sergio H who wrote (992)	2/22/1998 10:47:00 PM
From: freelyhovering	Respond to of 29382

Sergio--NORT appears to be getting ready for a move up. That's not to say that it can't trend down a little longer. Tomorrow a.m. will give some direction IMHO as the oils react to the Iraqi situation. It is sitting near the bottom of its channel and could come back to the bottom in the low 1's but the short term sto's have turned up as have short and medium TSV. OBV is slightly negative as is BOP and MoneyStream is neutral. The 3/1/1 RSI is trending up. I think it is a low risk buy for an investment here as the risk reward is on the reward side. Myron