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

To: Wallace Rivers who wrote (26168)	7/22/1998 8:54:00 AM
From: SJS	Read Replies (2) \| Respond to of 95453

MDCO fans....is this good news? _______________ 08:42 [MDCO] MARINE DRILLING COS Q2 NET 38 CENTS VS 25 CENTS. Zack's says concensus was .37. They beat by.......ye ole penny!!

To: Wallace Rivers who wrote (26168)	7/22/1998 9:03:00 AM
From: JZGalt	Respond to of 95453

Barron's comment: A: We're long crude oil. Went long about a dollar ago. But most speculators are short -- and probably will be until we get back up to the $15-$16 area. I'm making the bet because I can't find a place, in any market, on any chart, where speculator sentiment has been above 90%-95% in one direction where betting against their position hasn't been the right thing to do.

To: Wallace Rivers who wrote (26168)	7/22/1998 9:11:00 AM
From: Intel Trader	Read Replies (2) \| Respond to of 95453

A thought on the SLB downgrade: although this may be wishful thinking ... money managers watch the downgrades and observe the effect on the relative strength of the stocks. If it appears that not much downside occurs, a few may take 'heroic' action and actually establish a position. That could inspire a few more to put their toes in the water. If the water gets warm enough, shorts will begin to exit their position, ensuring that a floor is put under the stock's price. I'm not so sure that they will wait for any further oil stats to come out in the short run to make a buy decision. Sometimes they enter when they can no longer hold themselves back, and that is the reason that stocks seem to move when you least expect them to. That could trigger a momentum slide forward. Often their judgement is to enter when they sense at least a short term gain, as opposed to further sliding. You do have to wonder where the analysts were on SLB at 80 and 72... Just a few more of my rantings. humbly, it