Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Czechsinthemail who wrote (18273)	4/7/1998 7:36:00 AM
From: marc chatman	Respond to of 95453

Baird, you have expressed more clearly and in less space the point which I was trying to get across. Nevertheless, Mabel's article may be an event to the extent that people look at it, figure ESV (and possibly others) will tank, and sell in a panic. If I were a more aggressive short seller (and had a lot more money), I'd short the daylights out of ESV tomorrow to get the ball rolling and then watch the people who read the article dump their shares. I actually read the article a couple of times because I was having a hard time figuring out why it was sending so much panic through this thread. I can just imagine all the people who read some of the posts here but missed the post with the article -- they probably think this is some seminal event. For all we know, ESV has already contracted to someone else the one rig which is going off contract with Coastal. Or maybe they are going to upgrade it. Who knows? I don't recall Mavis having gotten comments from ESV. And I still wonder why Mavis ignores the utilization rates in favor of less relevant figures. After all, isn't it the supply/demand of rigs which determines dayrates? You have also picked up on an interesting point -- maybe it's time to short Coastal, not ESV.