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

To: Jess Beltz who wrote (12506)	2/23/1998 12:16:00 AM
From: Dwight E. Karlsen	Respond to of 95453

Jess, if the drillers retest the Jan. lows, then buy there and then forget about these stocks for awhile. I'm in now, and I certainly am not going to do the sell at the low thing. I feel that since I'm such a poor market timer, my best strategy is to hang in there, so long as the E&P budgets stay intact at the big oil cos, and are not cut drastically. It remains to be seen if Iraq will go along with the terms of the more oil for food that the UN has put on the sale. Last I heard the Iraqis were vehement in their opposition to the monitoring terms of increased oil sales (to make sure the money goes for food and medicine). If the Iraqis do go for the sale, then obviously oil will stay under pressure for a while yet.