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

To: 007 who wrote (14644)	3/12/1998 4:42:00 PM
From: Broken_Clock	Respond to of 95453

The initial selling volume in SLB was fairly light. However, overlay an intraday oil chart with SLB and notice the similarities. It was very encouaging to see the strong buying at 70-70.50 mid day. PK

To: 007 who wrote (14644)	3/12/1998 4:54:00 PM
From: Swede	Read Replies (3) \| Respond to of 95453

FWIW, Mike King, Sr. VP with Dain Rauscher, told me today that he was buying nothing but the drillers--said everything else looked overbought. Said no way oil would go to $10 and stay; in fact the least thing positive would turn it up, there was so much negative on it all at once--couldn't possibly hold it under that much longer. When it turns, "these drillers will positively explode!" The danger now is greater being out than in. Today they bought NE and FLC. Earlier in the week they were buying ATW and RIG. They are strictly buying deep drillers. Remember, these people have been into oils and drilling since Big Dog was a pup!