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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Philip H. Lee who wrote (17487)	3/20/1998 3:02:00 PM
From: Judy	Read Replies (3) \| Respond to of 50167

Oil drillers/service stocks have found bottom ... This week while the sector got hammered and CNBC was *issing in the wind about the sector I watched value buyers swoop down like vultures on the bellweathers and best valued of the sector and at proper entry levels. The price of crude may not have bottomed yet and John Bollinger of bb bands expects another downleg for the sector. FWIW in Oct '97 I posted to short the sector while the sector bull was rampant; in Jan '98 I posted on the driller thread that the sector had not found bottom yet; and today I am posting the bottom has been put in or darn near. Mike S, if you are still lurking on the SI threads ... I posted the bottom shall be found when value buyers step up to the bat. Damn, this week they stepped in at my entry prices while I was fiddling around due to uncertainty! Value buying is occuring as the sectors are rotating and liquidity is milling about this week. This market is strong, SPY shows no divergences yet. Will post more this weekend, given time.