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

To: Broken_Clock who wrote (19036)	4/14/1998 4:38:00 PM
From: Thean	Read Replies (5) \| Respond to of 95453

Papaya, NYMEX oil closed at $15.12, down $0.21. Brent North Sea closed down $0.55. I got my oil quotes from Bloomberg Energy. I saw people are betting heavily that ESV will pop tomorrow. Look at the last spike at the close. ESV indeed broke through its base below $27 today. RDC and GLM are not doing much despite their pretty reasonable earnings. Some other drillers tank today though, look at MDCO. It's a mixed bag today and it probably will be a mixed bag tomorrow. Although some are trying hard to move above their inflection points, I don't see them moving up like a rocket like we had during the last cycle when crude was surging to $17. I don't know if anyone noticed, but I think I see more and more analysts who appeared on CNBC either not talking about the drillers or advice avoiding them lately. To be true I don't think they sway investors hard one way or another but the mass-media sentiment is not exactly positive on the drillers right now. If all these good earnings are not moving the drillers up hard, it is time to lighten up by selling into strenght in light of the seemingly weakening crude and natural gas positions short term. Just a reminder - being conservative by taking small profits don't hurt but actually make you richer.

To: Broken_Clock who wrote (19036)	4/14/1998 4:43:00 PM
From: drsvelte	Read Replies (1) \| Respond to of 95453

.....IP missed earnings.... Paper is apparently now "cool" again. The rationale is that paper and pulp inventories are down, Asia woes overblown, blah blah blah. Just like steel had their run earlier this quarter. What I find so amazing is these sector shifts are absolute discrete events -- a sector is pretty much either "hot" or "not;" its "in" or "out." Just like last fall with the Oil Services. Rolling along for six months then someone(s!) decides one day in November that it all over -- and it is. The stuff of conspiracies, no? Looks like Intel made its number, so tomorrow should be good (now that I've said it, it will be bad!) Hope the OS can catch a ride. drsvelte