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Gold/Mining/Energy : Anyone following UTI Energy Corp.? -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (801)	6/9/1998 5:29:00 PM
From: William Nelson	Respond to of 1305

I agree -- the drilling boom hasn't been caused by high oil prices; on the contrary, they've come down steadily.It's been caused by oil companies projections of demand, and knowledge that they're not building proven reserves at a comparable rate. Then came asia and the demand projections got blown short-term. But I believe (maybe hope is better) that the reasons for drilling still exist and the boom will resume after this hiccup. So my strategy is to wait out the bottom, suffering with the pain, then when the uptrend resumes go on margin, and sell at the next momentum spike. It's hard to call the bottom so a bottom fisher must tolerate pain well... On the positive side, cars are selling like crazy, with guzzlers favored. Now that I own oil, sadly, I have to regard this as positive.

To: JakeStraw who wrote (801)	6/10/1998 3:45:00 PM
From: R. Murphey	Respond to of 1305

Nevertheless, today's price drop is a TEST, and only a TEST. Had this been an actual meltdown of the oil industry, it is quite possible UTI would rise a flag and say something like ....."don't forget, we're mainly into natural gas." This was also a test to see if: 1) you were paying attention 2) you are too highly margined 3) you are willing to let someone pry your shares from your cold, dead hand 4) a significant emotional event will prompt producers to act quickly, decisively, and in unison. 5) (insert your own phrase here)