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Gold/Mining/Energy : Schlumberger - The biggest/baddest oil service company -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (30)7/29/1998 11:56:00 AM
From: LJM  Read Replies (2) | Respond to of 216
 
I have to think this may be the bottom for the drillers, and consequently I jumped in today with purchases of DO and SLB for long term hold. The value at these levels is too compelling even if we do see some more correction.

At some point, this sector will turn back up and I don't want to miss the next up cycle, as I expect it will be a long term upward trend. Asia will straighten out and the demand for oil will grow quickly and oil prices will scale back up. It is inevitable. It's only a matter of when.
LJM



To: Bald Eagle who wrote (30)7/29/1998 9:36:00 PM
From: General Crude  Read Replies (1) | Respond to of 216
 
Thanks for educating me concerning El Nino versus La Nina. SLB is lean and mean and will do fine. Just a question of when oil prices will turn up. I am guessing that they will this winter considering the extreme weather we have been experiencing. Picked some up the other day at 61 5/8. It's a good solid core holding.

Good Luck.

Doug


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