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

To: MARK BARGER who wrote (25382)	7/9/1998 12:01:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

<<When will this freefall stop? >> No later than 4pm -- for today, at least.<g> I'm actually starting to see some technical divergence signals in the average and some individual companies. That normally signals that a turn is coming. But it is too early to confirm, and we could see more downward pressure first, in any event. And, of course, negative news would create more selling pressure, overriding the technical signals. I've already mentioned (probably too many times) the possible bad news which could hit the sector. These stocks still are a highly speculative buy until a turn is confirmed. And even then, without better fundamentals, I would not expect the sector to turn on a dime and shoot straight to the moon. I have a couple of questions for the thread: 1. Does anyone know whether and to what extent there is an inverse correlation between the strength of the dollar and the price of oil? Do we need to see a weaker dollar to stimulate foreign demand for oil? 2. How long has it been since dayrates and rig utilization rates were as low as they are now? I'm curious where the drillers were trading back then.

To: MARK BARGER who wrote (25382)	7/14/1998 1:08:00 PM
From: Jimbo Cobb	Read Replies (2) \| Respond to of 95453

from Cramer... Was it the vacation, or is this market just glad to see me? Tech, banks, and drugs all going higher -- it doesn't get any better than this. In the meantime, talking heads drone on about caution in the background and how dangerous everything is out there. Wake up and smell the Bokar. This is a tape that likes bad news and loves good news. Merck (NYSE:MRK - news) gets a shoo-in approval for some drug? Let's take it up a couple. Nothing bad happening at Microsoft (Nasdaq:MSFT - news) ? Let's give that a higher multiple. Things sounds just okay at Intel (Nasdaq:INTC - news) ? Heck, that's better than terrible -- let's expand the multiple. No preannouncements in hardware techland? Well, let's unleash the purse strings and put that money to work. Japan in disarray? Love disarray. Oil drillers announcing bad numbers? OK, we aren't that stupid. They still won't go up. There is dog food that even dogs won't eat.