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

To: mph who wrote (17432)	4/1/1998 10:44:00 AM
From: Chuzzlewit	Read Replies (3) \| Respond to of 95453

OT mph, my reflex was Bleak House, only because it dealt so harshly with lawyers. I really am ashamed of my misattribution, since I love reading Dickens. And if you enjoy him, do read Martin Chuzzlewit. I think that's by far his best work! Regards, Paul

To: mph who wrote (17432)	4/1/1998 11:04:00 AM
From: Teddy	Respond to of 95453

There's an article in today's The Wall Street Urinal that talks about earnings for the S&P being cut even as the Market has risen... Here's a snip, kinda gives me the impression that we shouldn't go down too much more ;-) The worst performing sector was energy, although even that group's advance, at 4.6%, was hardly shabby in an absolute sense, especially in light of a plunge in oil prices to nine-year lows. "Clearly, the depression in commodity prices led to a significant decline in earnings expectations," says Mr. Galvin. But "the stocks on balance did better than the commodity prices alone would have suggested." He attributes that to the growing realization that the economies of Europe, the U.S. and Latin America remain healthy, and Asia's drag on the global economy probably will diminish in the coming year. The large integrated oil companies' stocks rose 6.8% during the quarter, because their large refining and marketing operations insulate them from changes in the price of oil. Harder hit were oil drillers, one of the strongest groups of 1997; their stocks fell 9.7%.