Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: HH who wrote (15184)	3/17/1998 7:27:00 PM
From: kumar L chalasani	Respond to of 95453

from the Yahoo thread: (can anyone confirm this?) messages.yahoo.com@m2.yahoo.com UtI's biggest customer will let go a majority of FWA's rigs in the next few weeks. They are saying that due to economic reasons Pioneer Natural in West Texas will only run 4 or 5 rigs ( when they did run 12 to 15 od FWA's rigs). With the pressure on for lower rates, these rigs will not produce any margins, only provide cash flow. with this in mind and JSM also running in a marginal area for oil production (Spraberry), this stock (or company) is in for a downsizing and trouble in the next few months. I do not hold the stock.

To: HH who wrote (15184)	3/17/1998 7:32:00 PM
From: marc chatman	Respond to of 95453

I see a GLM trade of 200 shares at 4:49 on the Toronto Exch. for 22 3/16. eom

To: HH who wrote (15184)	3/17/1998 7:34:00 PM
From: Thean	Respond to of 95453

Heyward, I noticed the same thing. I did not find any after hour news release in GLM. One thing for sure, you can totally ignore all posts on this thread and just count on your irish luck to make money in an oil driller. Don't know where you get it but it sure ain't dumb luck. Marc, I was referring to the day in January before the day that traded the lowest. It may not be the fifth day. Anyway, the reference is only to point out that similar panic selling had occured and it was a bargain hunting opportunity for short term trade. It should be sufficiently clear now that we have more than two months of data that we are stuck in a trading range. My point is - buy and hold will not make any money until we get out of this trading range. However, timing the numerous cycles correctly can make quite some profit. This is a phenomenon that has been true all the way back to fall of 1996 when I came in to play the drillers. One can always count on the presence of short term cycles.