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

To: tdl4138 who wrote (26197)	7/22/1998 12:36:00 PM
From: Bolder	Respond to of 95453

Another signal that this sector is reaching a bottom is when the stocks no longer decline on bad news. Unfortunately, the current situation is the reverse in that some of these stocks are going down on good news. I think that the stock market as measured by the DJ and S&P will experience a 10-15% decline prior to the end of October; however, I think that the Drilling and oil-field services sector will show better relative strength if the stock market declines as I anticipate. My reason for thinking this way is as follows: If oil prices continue to decline and remain weak for a prolonged period of time then 1.SAUDIA ARABIA could be faced with a civil revolution . 2.VENEZUEL will be faced with huge debts and rampant inflation 3.IRAN and KUWAIT will face domestic turmoil. So if oil prices stabilize the stock prices in this sector should stabilize even if the overall market is declining.