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

To: Chuzzlewit who wrote (20416)	4/26/1998 2:09:00 PM
From: Gator II	Read Replies (1) \| Respond to of 95453

You are right, of course, Chuzzlewit. Who would argue that anyone who could see further into the future wouldn't attempt to do so. Realistically, however, in most industries, I believe 6 months to a year is about as far as one can reasonably forecast the future as it relates to earnings projections with any degree of accuracy at all. The variables are just too great. Perhaps it is for this reason that the conventional wisdom (as I understand it) holds that the market is only ABLE to discount six months to a year ahead. The lead time for constructing deep drilling rigs being what it is, plus knowing the current demand for and supply of like rigs capable of performing similar tasks, does give one the advantage of reducing (somewhat) at least one major variable... I will stand by the intent of previous statement, however, that GENERALLY SPEAKING today's overall market action/direction/trend (or as Bob Dole would say, "whatever") is an attempt by investors to anticipate forward six months to a year. I guess this is a significant difference from the abbreviated version of what I was attempting to convey previously...GATOR II PS What does "TTFN" and "CTC" stand for? Thx