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

To: johny who wrote (24216)	6/16/1998 11:34:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

ultra -deepwater bottom fishing ... How do you call a bottom or select an entry point to buy during this sell off ? How do you calculate which individual stocks are oversold or which ones may have substantial downside remaining from here ? In doing a little bottom fishing a few stocks stand out as having been sold off well beyond their prior levels in the January and March selloffs. PKD & ESV are substantially lower than these past lows - approx 25% +/-; land drillers also have been decimated, some like BDI are 20% + below these prior lows... FLC, surprisingly was off another 10% from these prior low levels and the 'oft mentioned parriah of late TCMS (I'm loaded @ $11 - unfortunately) is near leading the pack @ about 30% ! ... sounds like a logical level to call these ''at/or near the bottom''. How much more downside from the prior bottoms can these go ? - all ready 25% + from prior bottoms sure sounds like prudent value buying to me. Kind of like buying the OSX @ $60...