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

To: Thomas M. who wrote (21940)	5/13/1998 2:15:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Thomas....what good news is left out there for the US market? Earnings are done. 2nd qtr warnings are due in a couple of weeks. But, if Asia does implode the reaction over here will be even more violent IMO. We have a lot further to drop and it seems to me to be even more unsustainable at these levels. I will hang with the drillers since the valuations are the best overall. If Oil drops further then OPEC will cut further. I would guess if China devalues and Asia implodes then we are all in trouble....worse than last Oct. is my guess. We are already at early 1997 levels STILL for lots of stocks in this sector...those would suffer the least I suppose. The RIG, DO, CDG, SLB stocks that have already rebounded would probably take a pretty good hit short term.