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

To: marc chatman who wrote (15046)	3/17/1998 12:30:00 PM
From: marc chatman	Respond to of 95453

Here is a list of the Merrill moves. No drillers, but the connotation of an impact is clear. I'm posting it in case someone has some insight as to which drillers these companies typically employ. The message from Merrill is that debt ratings on these guys may be cut, so they may have to slash cap ex or exploration programs. From briefing.com: Oil Exploration Stocks: Merrill Lynch downgrades Anadarko Petroleum (APC 60 5/8 -11/16) from near-term "attractive" to "neutral" while keeping its long-term at "buy;" downgrades Apache Corp. (APA 34 1/16 -7/16) and Union texas Petroleum (UTH 20 9/16 -3/8) from near-term "accumulate" to "neutral," while keeping its long-term rating at "buy;" downgrades Pioneer Natural Resources (PDX 41 1/18 +1/8) from near-term "accumulate" to neutral" and keeps long-term at "accumulate;" downgrades Union Pacific Resources Group (UPR 22 3/16 -3/16) from near-term "accumulate" and long-term "buy" to near-term "neutral" and long-term "accumulate;" downgrades Triton Energy (OIL 32 1/16 -3/4) from long-term "accumulate" to "neutral" while keeping its near-term rating at "neutral" and downgrades Pogo Producing (PPP 29 5/8 -5/16) from near-term "accumulate" to "neutral" but leaves long-term at "accumulate".....

To: marc chatman who wrote (15046)	3/17/1998 1:39:00 PM
From: RGinPG	Read Replies (1) \| Respond to of 95453

No, I get closing prices on the cash settlement value for light sweet crude. I have no TA on it, except that we are down to historic lows (DOY!!). If we're going to get a bounce from support levels, it had better be soon. Story of my life: premature capitulation, followed by premature appropriation. Needless to say my legs are a little wobbly with today's action. I will never try to outguess my TA again. I keep learning, and the lessons are so costly.