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

To: Amelia Carhartt who wrote (24210)	6/16/1998 10:08:00 AM
From: TulipMania	Read Replies (2) \| Respond to of 95453

Why is TCMS dropping this morning?

To: Amelia Carhartt who wrote (24210)	6/16/1998 10:12:00 AM
From: Grommit	Read Replies (1) \| Respond to of 95453

Analysts as an indicator -- More often than not analysts upgrade stocks after they have had a run up and downgrade stocks just before they reverse course. This seems to be true more often than not. But in the case of oil stocks I would say that the analysts are just a reflection of oil prices. Oil prices are the major determinant of oil drilling activity and stock price and the analysts do not know the direction or oil prices any more than you or I. So I would not follow analyst downgrades as a signal of bottom.