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

To: waverider who wrote (22877)	5/27/1998 11:39:00 AM
From: Wayne Olive	Respond to of 95453

HydroMan.. Your long term view will prevail. I'm very bullish long term and want to come back in soon, but will wait for signs of inventory reduction trending down. Do you still have a party platform reserved..? I see that dayrates are down for some rigs.. the shallower ones. >>> As much I hate to admit it, you dirty dog <GG>, you were right last March. Wisdom has its merits. Duh! <<< DirtyDog <g..g..g>

To: waverider who wrote (22877)	5/27/1998 11:53:00 AM
From: jbe	Read Replies (1) \| Respond to of 95453

Folks, take comfort in the fact that oil service stocks are not faring any worse than the general market at this point. In my own portfolio, oil service/driller stocks are down "only" by 1.25%, while the average for the rest (mostly also "value plays") is -1.52%. My furniture companies have been hit especially hard -- and they don't have to worry about oil prices! (What is it -- do "analysts" expect consumers will stop buying home and office furniture?) On the other hand, cement seems to be holding up relatively well(so at least we'll keep on building the homes and offices to put the furniture in)..... Seriously, though, I continue to worry about the situation in Western Europe. Over the last year, I have developed the habit of checking out how European markets are doing, before the U.S. markets open. If Western Europe is up, I expect a good day here (and am usually right). If it is down, I expect a bad day here (and again am usually right). This is a very crude rule of thumb, but in my observation we tend to follow Western Europe's lead more often than it follows ours. In any event, Western Europe is way down today. (Or at least was, when I checked it out early this morning. Haven't had the heart to take another peek! Considering the number of European funds I hold, this hurts.) jbe