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

To: VLAD who wrote (26078)	7/21/1998 12:49:00 AM
From: Braddock Bull	Read Replies (3) \| Respond to of 95453

Fear is all that's left The greedy have long since sold. In my opinion, talk of $8 oil or even $10 oil is simply absurd... I honestly think there would be major unrest (if not civil war) in half these producing countries long before that point. But that kind of talk/hype/uncertainty is strong medicine. I might be a newbie to the patch, but I can smell panic selling a mile away. Cliffs Drilling is as solid as they come and I've seen nothing which makes their situation different from any other shallow driller. As I understand it, they're in a much better position given their greater diversity and the number of GOM rigs drilling gas. Hell, CDG could earn nothing for the last three quarters of '98 and still show a PE of about average for an S&P stock! It's just insane, but that's the market for ya. I am not going to sell this damn stock for a loss, end of story. Q: Is Cliffs going to lose money for the next three quarters? A: Nope. They're going to make somewhere between $3-$4 this year Q: How low is oil going to go? A: Oil will rise to $15 -$16 by year end Q: Is the world economy going to collapse? A: Gimme a break. My $.02 newbie cents for tonight, glib, over-simplified maybe, but that's the way I see it. Brad