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

To: John Carpenter who wrote (23000)	5/28/1998 6:23:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

<<This is more than short covering. The driller/oilfield service correction has ended.>> Definitely, and maybe (boy, was I wrong earlier). At the very least, it should be a nice bounce. There are still some questions to consider: 1. Can these stocks resume an uptrend in the face of depressed oil prices? I don't think so, but we can see a significant bounce. A higher high on this reversal doesn't seem realistic unless oil does an about face. I would be looking for a lower high at first. 2. Can the sector move up against the broader market? Maybe against light selling, but we could get much more than that. We could find out tomorrow. I doubled up on RON yesterday, but I pulled back an order today for RIG. That looks like a big mistake. Did anyone catch that 50k trade on FGII near the end of the day? I wasn't watching, so I don't know whether it went of at the bid or ask.