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

To: Czechsinthemail who wrote (20301)	4/24/1998 4:47:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

After going through LT's recent posts and having known him since the beginning of this thread, I think this has been a case of mid-labeling on this thread. Let me speak on LT's behalf a bit. If I misunderstand you, LT, you speak out. LT believes in himself strongly and when he sees the decision he made being challenged he defends his decision vigorously. Afterall LT used to be a lawyer. LT is known on this thread as the man to NE as Baird is currently to ESV. But he makes the decision to hedge his NE long position and this is just a smart risk-reward decision. LT is more conservative and not so slo-mo than many have characterized him. He may not be very willing to discuss some of the bad outcomes from his past sound decisions but who is? I also share the fear of a bear market coming soon but I'm not willing to completely step out. His discussion of money flow is valid and after the new IRA money that comes in the past week there is not going to another wave of new money coming in. Unless, Americans are saving and investing their tax refund instead of spending it. That will be a new trend and this may very well be the trend going forward. I am very careful about the overall market and drillers included. Writing calls make sense in this environment.

To: Czechsinthemail who wrote (20301)	4/24/1998 4:50:00 PM
From: Jack Be Quick	Respond to of 95453

Baird, re:<< I think TDW will probably do well, but it may take soothing some of the fears of a summer supply glut in the boats.>> Yes, you are right. The current estimate of $1.04 probably reflects too much of the wild enthusiasm and euphoria that has surrounded the boat companies recently. As you point out, TDW has tried to moderate this enthusiasm with their public guidance, but investors may still be expecting something better than a total calamity. I suppose we'll find out next week. Best, John