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

To: marc chatman who wrote (21550)	5/6/1998 1:29:00 PM
From: Czechsinthemail	Read Replies (3) \| Respond to of 95453

marc, I think the market seems to be favoring the visibly undervalued companies that continue to trade at a healthy discount from their 52 week highs. I think that is why DO has been outperforming RIG recently and why ESV has been so strong -- they continue to trade well off their yearly highs. For those that don't micro-analyze the companies, trailing PE and discount from the 52 week high are quick ways of eyeballing companies in search of bargains. Though we remain vulnerable to weak oil prices, recent volume and price strength suggests some major buying even without much support from oil prices. It seems to be catch-up time for some of the recent laggards. ESV, for example, hasn't really been selling off much even when oil prices have been weakening. It has been meet with pretty consistent buying that has moved it back up. This seems to be one of those times when holding pays better than trading. Baird