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

To: Snewts who wrote (18075)	4/5/1998 11:47:00 AM
From: Thean	Read Replies (3) \| Respond to of 95453

Newt, Interesting comment on NBR. NBR is the only driller I currently still hold. Bought on the thinking that they have one of the most limited downside from here (if one assumes the recent low being the absolute low in the next few weeks). So far so bad (after two days). If the street only reduced their estimate from $0.40 to $0.39, why do you think they have the highest risk among the land drillers? Is it because they have the highest probability for further downside adjustment? Or could it be they have problem that could result in earning of $0.20 rather. When was BDI's CFO comment received, do you know? I have not heard of any recent UTI comments from the company after their share buyback announcement. If one were to go with the strength developed after the recent catapult from their lows, one would go with UTI having the best strength. PTEN's strength could be a bit suspect because it was under extreme price compression before the capatapult. I have been trading all of them except GW and PKD the last two weeks. I also noticed that you have been shorting a lot of the high flyers. What is your pain tolerance level? 10%, 20%?? April 15 has been much talked about as the magic date of the beginning of the overall market decline. I seriously think there is some validity to this scenario. Time has changed so much that one can hardly find someone they know who are not investing in the market anymore. The $2000 IRA contributions a piece from 100 (assumed) million working adults does add up to something like 200 BILLION dollars!! Knowing human nature, a large fraction of this 200 BILLION dollars is trying to beat the tax filing deadline for 1997 contribution. I am seriously considering shorting a few of those high flyers on or after April 15. Sand - good comment on the use of Contest heading in all contest posts. I humbly apologize. Heyward - your father is a wise man indeed. I see that gene in you as well. Thanks for the MTEL snip. If the bad time comes, would you stay out or would you go short? What's your decision on opening up a discount brokerage account?