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

To: William L. Oppenheim who wrote (19409)	4/16/1998 7:19:00 PM
From: marc chatman	Read Replies (4) \| Respond to of 95453

"Decreasing sequential earnings" (I think that's what Joe Kernan said) is not a statement which would attract me to invest. After all, they don't make semiconductors. Some of the seemingly more desirable stocks in this sector do have PE's over 30 (RIG, NE, VRC, FGII, to name a few). That's above the market PE, so if/when the market goes to pot, there's probably not a lot of defense here. I guess despite the growth story, most of these drillers are in fact cyclicals and should be happy with PE's slightly higher than car manufacturers. Sorry to sound so negative, but I'm not looking forward to my portfolio getting trashed again tomorrow.