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

To: Challo Jeregy who wrote (17511)	4/1/1998 2:48:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

Challo, I think a lot of people have been getting faked out on their trading. And the large number of people that have been on the sidelines either fearing or hoping for lower prices are likely to provide considerable buying support for the drillers whether those lower prices materialize or not. Unless oil prices seriously tank, the bargain-hunting and short-covering should strengthen the prices. As you can see, when the stocks don't go down as expected, the trigger fingers get itchier to buy. My guess is that the bias is likely to be to the upside between now and earnings announcements. After earnings are announced, I think the balance will shift much more toward buying and current price levels will be a fond memory (if you are long). good luck, Baird