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

To: Lazlo Pierce who wrote (18388)	4/7/1998 9:14:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

OT i don't subscribe to AOL, so could you please tell BigJet2 that Teddy said that he writes poorly and the tone of his letter is childish. Thank you.

To: Lazlo Pierce who wrote (18388)	4/7/1998 9:31:00 PM
From: William L. Oppenheim	Respond to of 95453

How silly--if there in fact were less drillers today than a year ago, todays drillers would be better off for lack of competition. Just shows why short term trading is so ridiculous when folks read and act on snippets of information, accurate or not. Large expenditure programs have a momentum of their own that simply can't be changed overnight. Why some investors feel that such programs will instantaneously change to reflect the market is why prices can get ahead of or behind reality. The underlying momentum is there; the long term oil needs are there; it is fickle investors who quickly change their minds and flit in and out of issues for no sound reason that move markets short term. If such folks acted on a single press release, without considering the entire milieu, that is their problem, and a profit opportunity for the long termers.