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Non-Tech : Lufkin Industries (Nasdaq: LUFK) -- Ignore unavailable to you. Want to Upgrade?

To: TimeToMakeTheInvs who wrote (95)	8/14/1998 3:05:00 AM
From: Todd D. Wiener	Read Replies (2) \| Respond to of 103

Oil demand could pick up in a couple of months, but it may not have much upward influence on prices. Since the Asian mess is likely to be an issue until 2000, at least, and the OPEC nations need to pump oil to survive, there is a 2+ year wet blanket being thrown on the oil market. Still, the oil service stocks are great bargains, and one of my favorites, CDG, was just bought by FLC, which could become one of the best long-term companies in the field. But these stocks have more downside. LUFK should hold $29 or so, as long as the trailer business continues to be strong. Continued weakness in LUFK's oil pump division will depress sales in the power transmission and foundry divisions, too, but the company should be able to exceed the street's estimates for the year. Todd