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

To: Thean who wrote (20254)	4/24/1998 12:13:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

RE: "What happen to those buy and hold theory? Can't NE even stand up to ride this turbulence?" Turbulence doesn't bother me: the change in the fundimentals of the industry do. If we ever have another up day i was sell the other half. i see no reason for these stocks to go up for nine months.

To: Thean who wrote (20254)	4/24/1998 1:03:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 95453

Very interesting about people turning negative on NE. What happen to those buy and hold theory? Can't NE even stand up to ride this turbulence? When the NE permabulls are talking about buying puts and unloading their positions, I think it is safe to say that negative sentiment is back. Baird

To: Thean who wrote (20254)	4/24/1998 5:46:00 PM
From: Chuzzlewit	Respond to of 95453

Thean, the buy and hold concept is still alive and well. What I want to know is why people like LT would stay in this market given his forecasts. I mean, who is going to want to put money in a capital budget when there are no profits (because demand for oil drops in a recession) so there will be very little drilling (remember, interest rates are going up in this scenario, so the average cost of capital will be high) and we'll be sucking cheap oil for awhile longer. I, for one, see no macroeconomic danger. Long term interest rates look like they may trend lower given the release of Japanese firms to invest overseas. And if Greenspan increased rates (and those are just short term rates -- the fed doesn't diddle the long term rates) it would serve to strengthen the dollar, and there goes that theory! Finally, for anybody who cares to look, the OSX correlates positively with the overall market. TTFN, CTC