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

To: marc chatman who wrote (24735)	6/25/1998 12:26:00 PM
From: Amelia Carhartt	Respond to of 95453

Well, heck, you sure no how to take the wind out of the sails.

To: marc chatman who wrote (24735)	6/25/1998 12:32:00 PM
From: SliderOnTheBlack	Read Replies (4) \| Respond to of 95453

are all the longs gone ? PDS, MIND, HMAR moving nicely... PDS has been making a nice move, slow and steady. MIND & HMAR also slowly moving forward. Anyone buying or cost-averaging down ? I bought more FLC today - averaging down. EVI, NE & CDG in the crosshairs to average down on as well... sure wish this was my initial entry position and not ''averaging down'', but I'm very comfortable with my cost average on my core holdings. I'm taking it as a ''good thing'' that the sentiment or is that ''sediment'' <? - VBG>on the board is sooo gloomy. True, OPEC did not fix the problem, but the downside risk has been tremendously limited - IMHO. I agree with others that the key may be an increased DEMAND for oil (primarily from Asia) rather than production cuts, but do not underestimate the definite effect (allthough limited) that the cuts will have. We have a very positive scenario playing out, with the substantially downward revisions to analyst earnings estimates - the table has been set for upside surprises coming Q3-4 & Q1 1999... if crude prices rebound - and it's just a matter of when. I still see no better sector or brighter upside than the 'patch. --- I say we are seeing some short term profit taking off the OPEC news, but I expect a 10% slow, steady gain over the next 4-6 weeks. Value-wise; we have stocks like NE (with tremendous deepwater capacity coming online) selling for 10 % below its prior selloff-low of March and at its Jan low - back in Jan. no one knew what OPEC would do - or where the bottom could be. I think we have a much better handle on things now; to be able to buy NE at the same level with much more info & OPEC's target cuts etc. - is a much better trade than it was in Jan. or March risk-wise. EVI, NE, CDG, FLC, MDCO, VRC at present prices and FGII on any dips back to $27-8 look very, very solid to me ! now if only my red-headed stepchild; TCMS would start to move...