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Gold/Mining/Energy : Anyone following UTI Energy Corp.? -- Ignore unavailable to you. Want to Upgrade?

To: Nazbuster who wrote (506)	4/21/1998 9:15:00 PM
From: Nazbuster	Read Replies (1) \| Respond to of 1305

From Motley Fool Evening News... fnews.yahoo.com Oil drillers and oil services firms climbed today after Deutsche Morgan Grenfell started coverage of both sectors and assigned "buy" ratings to numerous companies. Marine Drilling (Nasdaq:MDCO - news) rose $1 7/16 to $25 5/8, Cliffs Drilling Co. (NYSE:CDG - news) gained $3 1/16 to $50 1/16, and Diamond Offshore Drilling (NYSE:DO - news) tacked on $1 15/16 to $49. Among the oil services firms, Schlumberger (NYSE:SLB - news) added $3 11/16 to $80 5/8 and Cooper Cameron Corp. (NYSE:RON - news) was lifted $2 3/4 to $65 3/16. Smith International (NYSE:SII - news) advanced $3 1/2 to $60 11/16 after receiving an "accumulate" rating.

To: Nazbuster who wrote (506)	4/22/1998 10:14:00 AM
From: Captain James T. Kirk	Read Replies (1) \| Respond to of 1305

Its actually quite simple. If you have a solid, low debit company that is obviously oversold (buy looking at the chart), and due to a bad Q or 2, there is a high probablity that it will rebound in time. It must be a GOOD company, not a speculative play. Its then just a psychological play and one needs the nerve to jump in while its not popular. this is the key to a bottom fishing trading. Now UTI, for example is hot, but what were they saying when it was 12 1/2? Net stocks are flying now, but are you going to pay 70 for XCIT because it is popular, when it could have been had for less than 20 months earlier? that is a dangerous play. The oil sector had many good bottom plays just weeks ago. Solid companies, great P/Es, and excellent valuations, but they were knocked down out of fear and the oil price decline.