Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Dakota Sullivan who wrote (747)	6/2/1998 12:52:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 2282

INTERVIEW - Oil drillers a favorite at Glickenhaus Tuesday June 2, 12:21 pm Eastern Time NEW YORK, June 2 (Reuters) - With the market at dizzying levels, veteran Wall Street money manager Seth Glickenhaus says he's backing oil drillers as the best bang for the buck. ''Oil drilling is one sector that's cheap and extremely attractive because they've been badly hit,'' said Glickenhaus, a partner at the New York firm Glickenhaus & Co. In a telephone interview, he rattled off a few of his favorite names in the industry: Noble Drilling Corp. (NE - news), Global Marine Inc. (GLM - news), R&B Falcon Corp. (FLC - news), Ensco International Inc. (ESV - news) and Diamond Offshore Drilling Inc. (DO - news). Among other good buys Glickenhaus also touted were USG Corp (USG - news), a gypsum company, and Peak International Ltd. (PEAKF - news), a maker and marketer of precision engineered packaging for semiconductors and electronic components. ''The market is at giddy heights with very poor values at today's prices,'' he said. Glickenhaus has been on Wall Street for more than half a century, since he started at Salomon in 1934. ''I don't know how people can go to sleep at night without being short big gobs of Microsoft'' Corp. (MSFT - news), he said. He thinks the stock market currently seems to have lost momentum behind its upward thrust and is either spending time consolidating, or possibly topping off ahead of a downturn. ''The jury's still out, but I think chances favor the latter and we're going to see some pain,'' he said. Possible triggers of a downturn could be higher inflation, if the Pacific Rim financial virum becomes more punitive, or if earnings by the ''wonder wonder'' stocks, like Pfizer (PFE - news), Merck (MRK - news), Gillette (G - news) and Coca-Cola (KO - news). In a downturn scenario, he said, all stocks get battered but as the market recovers, the value stocks emerge as front-runners. ''When markets go down, no ladies are left out in the rain, but when things right themselves, the good separates,'' he said. He said brand-name stocks, particularly stocks in the Dow and the Standard & Poor's 500 Index are in the most danger, because they have been driven higher by index-driven buying rather than fundamentals. ''We're still buying a few companies,'' he said, ''but we're ducking the 'name' stocks like sin.'' biz.yahoo.com

To: Dakota Sullivan who wrote (747)	6/2/1998 4:14:00 PM
From: Fredman	Read Replies (1) \| Respond to of 2282

my GUESS is, i am hanging onto GLM. I bought in at 24.50 or so, but what i will do is just buy some more in about a week or so. I just figure the pure SCARE of the phrase 'OPEC meets in 3 weeks....' will be enough to raise prices just a little bit, if for a short-term 3-7-10 days. i don't think i am going to sell it now to 'cut my losses' because it is a good company and it will come back. I think it could go down to 17-18.00 or so, i'd be surprised if it goes lower than that. it depends on how bad you need cash and a loss. all i know is EVERY time i sell a stock, it goes up within a week of me selling it, and no, i am not selling it (yet). patience. Fred.