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

To: RGinPG who wrote (18012)	4/4/1998 8:59:00 AM
From: Thean	Respond to of 95453

Re: Darrell Michaels. Ron, if Mike Boyd same as Darrell Michaels that sent us the Vancouver exchange gold stock solicitation? Darrell Michaels - if you read this you know you are being watched. Pack up and go away or Webmistress is going to find you.

To: RGinPG who wrote (18012)	4/4/1998 9:31:00 AM
From: Thean	Read Replies (1) \| Respond to of 95453

The actions the last few days have been most puzzling to me. We had an unexpected April Fool rally and this I was sure came from fund buying because oil was down big that day and we just corrected from the high. I still believe that. However, the lack of follow-throught on Thursday and Friday despite pretty nice moves on oil prices is very puzzling. What we have I think is a phenomenon of selective buying/selling and not en-mass buying across the board like what we have been used to. I would split the drillers up into 3 camps: 1. Current leaders - NE, RIG, ATW This group has shown tremendous strength in their respective space. While their peers may have corrected 20% from the recent peaks, they are still pressing on higher high's. They all move over 30% move from their most recent lows. Good group to not lose much money if we go sideway from here. 2. Mid-Pack - PDE, MDCO, PDS, RDC, FLC, UTI, PTEN, BDI, GLM, SDC, ESV This groups has greater than 20% move from their most recent low but they have also met with resistence from the highs and are consolidating. They tend to move a lot both ways. Good list to trade. 3. Laggard Pack - NBR, GW, DO This group has corrected corrected severely from their recent high's. They have experienced relative weakness compared to their peers by going to lower low's. Volumes are relatively large so it appears large institutions are shunning them. Unless there are some unknown fundamentals that are exceptional for them, they present the best relative values if one's holding time is 3 months or longer. Where do you go from here near term? This is the toughest question. While it may be premature to throw out the previous trend (past three months), we may be rewriting some trading rules in this group. One more week of data would be useful to further delineate what trend, if any, can one make of the current situation. By the way, we have three days of oil-OSX decoupling. It happened once in February that lasted almost 2 weeks while we were in the trading range. So a decoupling here does not necessarily mean we are heading strongly up or down one way or another. NBTY - this stock shot up at about the same time GD was making coffins for himself. Remember those pie eating days and St John Wort days in December? The company stock may be driven by strong fundamentals but heavy buying of their products from many here should at least speak a small volume.