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: The Ox who wrote (18678)	4/9/1998 9:23:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

My thoughts exactly. The earlier posting indicating that day rates were dropping in the GOM would have the potential to really crush any earnings rally. Simmons & Co. are the biggest bulls for this sector. bearish news from them would be devastating. I will count it as a rumor until confirmed.

To: The Ox who wrote (18678)	4/9/1998 9:45:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

Michael, Your interpretation is correct. I'd like to add that there is a certain urgency for ESV to turn around because it cannot take a prolong beating. It has been surfing the lower BB lower for a few days. It did not bounced back up when it initially reached the lower BB. That is weakness. Its long stochastics is lazily drifting lower. I'd rather see it drop to $24 on Monday and close above $25.5, forming a nice looking hammer and accelerate its long stochastics (both lines below 20% on the IQC chart) crossover. $24 is the major support. The good news is $24 is not very far from where it closed today. The bad news is if oil drops $1.00 or some earning disappointment by those companies that report first will send the whole sector tanking and $24 may be reached too quickly to support ESV. I would not commit new money into ESV or any driller until a clear sign of a turnaround comes. The next direction can go either way. Remind yourself of Dec and think about capital preservation. Another intersting development - Iraq in trouble again for questionable biological warfare non-disclosure: bloomberg.com@@WjBb4wcA55Z9f6fo/energy/nrg2/nrwoil/nrwoil1_front.html Oil future up 13 cents after close. However, don't hold your breath over this long weekend. You may die of disappoint!

To: The Ox who wrote (18678)	4/10/1998 1:54:00 AM
From: William L. Oppenheim	Read Replies (1) \| Respond to of 95453

Depends on the time frame. Go back another 60 days and you'll find that the down trends were broken in late January, and we are simply consolidating here. The lower lows were in vogue from about November to late January. My bet is that we will consolidate here and eventually reverse to the upside as the demand picks up with the Asian recovery, and further third world investment activity. Unless anyone has a penchant for nuclear power, this world capitalization/industrialization is largely on the back of the fossil fuel industry. Yes oil is cheap now, but over the next decade, reduced costs (we know where to look) and increasing demand bode well for the oil barrons and their henchmen, the service sector. If you can't beat them . . .