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

To: Elmer who wrote (21897)	5/12/1998 6:20:00 PM
From: 007	Read Replies (1) \| Respond to of 95453

Other reasons for MAVK's decline: Triple whammy with oil prices, inventories and Asian imports. Sentiment turned very negative and then they did the guidance thing and the estimates were lowered. After the estimates were lowered, as well as the share price, the value crowd got interested. The buying picked up when MAVK subsequently announced that they were confident about meeting the reduced estimates. Earnings came out and they missed. Big no no. So they took a bad situation and made it worse IMO. Now there's certainly more doubt over the future estimates so the stock is getting "appropriately mistreated". I agree that it is a great value, but neither FA nor TA always make sense. Long-term it should do well if the number of new competitors doesn't grow too quickly. Personally, I would be concerned about the long-term outlook changing with companies like X looking to get into the OCTG business. Maybe I just don't know what the barriers to entry are, but it seems like a niche without much protection. Great double bottom buy in the making though. 007