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

To: marc chatman who wrote (19406)	4/16/1998 7:11:00 PM
From: William L. Oppenheim	Read Replies (1) \| Respond to of 95453

Even if revenue doesn't grow, profits can continue at this rate.If expenses can be shaved, the profits will actually grow even if day rates come down a little. These are safer stocks to own than any of the techs with PE's in the 30-50 range. These oil service stocks, just because they are already discounted are a great defensive play in case the market in general goes to pot, and also a good inflation hedge. If the PE's just come up to the averages of 20-25 now in effect for the rest of the S&P, they will not be dead money. Thus there are a variety of reasons why people will buy these over the next six months and drive their prices upward. Hardly dead money.