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

To: Czechsinthemail who wrote (14773)	3/13/1998 5:02:00 PM
From: marc chatman	Respond to of 95453

>> I suspect it will be a pretty small cliff << One factor to consider in predicting the size on any potential cliff is the predicament faced by the fund managers. It has been widely reported this week that the average fund performance is less than +7% year-to-date, as opposed to 9%+ for the DJIA. Many of the funds are therefore looking to play "catch-up." There are two schools of thought that I can see: (1) the underperforming funds will go for the underperforming groups like oil service and drillers thinking that they have more upside than the overvalued stocks, and (2) those funds will run like hell from this sector because they live and die from quarter to quarter and can't think about taking even a small step in the wrong direction. In this market, which is more likely?

To: Czechsinthemail who wrote (14773)	3/13/1998 5:14:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Baird... Just as LT pounds the NE drum and you keep tune on RIG, I will join in with SLB... SLB is still the leader. No matter what the various individual stocks do(land, fabs, service, drillers), the funds watch SLB & HAL for direction. I agree that RIG is extremely resiliant, but history shows it's not immune. It has taken a 10% hit from the recent high(close to the 10% SLB has also taken). RIG's chart is probably about as good as you can find in the sector. It is one of the few to make a much higher base. Looks like buyers at 40 won't see that again. I also think Pisani is dreaming about SLB below 70. That guy's gotta be short big time. PK