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

To: RGinPG who wrote (18263)	4/6/1998 11:15:00 PM
From: Thean	Respond to of 95453

Ron - regarding NBR. The reason why I bought them was because of its relative weakness versus its peers. But with ESV bad press, it seems to reaffirm the thinking that a weak stock price is weak for a reason, just the traders get the inside scoop before us. There aren't a lot of room for NBR before it hits its supports but the weakest also can rewrite their supports while the strongest barely budge. I'm not afraid to take losses as long as I can preserve capital. I went in at $24 1/8 so if I can sell them above $23 I'll be happy. DO has been weak and its being a deepwater is most facinating. PTEN and UTI look good for short term trading especially if they take big hits. Regarding BB. The logical price movement when a stock hits the lower BB is to turn around and go up. But this only applies in a sideway trading scenario with no external news influencing. Can't say this scenario is true with crude struggling to hold above $15 and the ESV news. More likely I think we will see some selective lower BB surfing. bw - your strategy is fine as well. Since they always go in cycles you should be able to recover with profit. It's just a matter of time. Good luck. Another lesson eh - Never overweight in any one stock no matter how good the perceived prospect. Despite what everyone may think otherwise, LT refused to add to his NE at the current price, citing his not being greedy. LT is a smooth, cool dude. LT - I don't know about NKE's head and shoulder but if you think so so be it - head and shoulder. My read is very simple - $43.

To: RGinPG who wrote (18263)	4/7/1998 12:44:00 AM
From: mph	Read Replies (1) \| Respond to of 95453

Ron: I really appreciate your post. I feel much more fortified now. I have been in a state of confusion all evening for some unknown reason. I think it's because some of my driller holdings are showing a good profit and I'm getting a bit spooked by some of the caution being expressed by several posters. Last week, I felt very confident about April Fools Day...my instincts are not so well defined this time. I'd like to buy one stock for short term trading. Exclude ESV, NE, FGII and FLC, which I already own. What looks good to you? TIA mph