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

To: SJS who wrote (12963)	2/26/1998 2:08:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

Another snip from thestreetdotcom (i think this means the end of going down for the sector): "The sector has been beaten down, but now it looks like some large institutions are trying to "get long," traders said. The Philadelphia Stock Exchange's Oil Services Index (OSX) had fallen more than 30% since November. Today, the OSX was up 6.63 to 103.93, a byproduct of the most solid sign of a consolidation in the industry. A major institution was buying the April 110 calls and selling the April 100 puts, effectively giving them a long position in the sector, and in the meantime, taking in a nice $475 premium for the puts. The position included about 2,000 contracts on each side of the trade, sources said. Volume was strong in the March 105 and 100 calls as well, but came in much smaller lots. "