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

To: waverider who wrote (14242)	3/9/1998 7:14:00 PM
From: Broken_Clock	Respond to of 95453

Diamomd- honestly, my last post was alluding to CDG...once the mo mo king and now the no no! Had the best earnings of any stock in the sector and is absolutely stinking. Go figure. I don't buy the "shallow" deal cause CDG is mainly in gas in the GOM so that should add strength if anything. And we knoe Venezuela will keep drilling which is CDGs other play. I'm gonna trade slb for awhile. Much more predictable. Once it get's going it's good for 5-10 points in whatever direction it's heading in.It alsohas some diversification which should be recognized by the market. Once we flatten out on the oil price then buying way out in the money cdg calls looks good to me, as does RIG & DO. PK

To: waverider who wrote (14242)	3/9/1998 10:43:00 PM
From: SJS	Respond to of 95453

Diamond, Right on. It's getting harder to sell covered, as the premiums' in the puts, and the calls are cheaper to buy (if you can stomach doing that....). However, there are OK premiums longer out, but beware that you'll give up your stock cheaper than you want to if you sell as we move toward the sector lows. If we're into a trading range for the next two quarters, Sell calls into the next upward surge. For example: I sold RON MAY 80 in the last RON surge about 1 week ago. Got $1 for them. Now? They're 3/8 bid. Buy'em back low, and wait for the next opportunity. So........Be ready!! You got to be nimble to get good call premium. I've got the MDCO 20 March calls going for me and didn't lose anything today in MDCO because I'm perfectly hedged. I sold into the surge Friday, thought I'd regret it over the weekend (and did a little) but today...I'm a hero. If MDCO closes under 20, I get some premium, and do it for April. If not, I get a locked 25%.