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

To: SliderOnTheBlack who wrote (27539)	8/11/1998 10:45:00 PM
From: Tulvio Durand	Read Replies (2) \| Respond to of 95453

Love the way you describe it, Slider -- John Wayne leading the assault on Pork Chop Hill. I got to cheer you on and hope you're successful. But I got to ask you, isn't the great-values scenario you describe pretty much there a month ago? Two months ago? The valuations were terrific then too, and many of us bought the story then and got clobbered. Next month's great-values scenario could be even more compelling than it is today; and so on. Yeah, I can appreciate the hand grenade theory for hitting the near bottom. But is there a bottom in sight? Do you think $8 oil is possible (I do)? And if so, could contract cancellations or stretch-outs be far behind for companies like FGII? I agree with you that the valuations are terrific, but the risk is unbounded at the moment, due to the collapsing Asian economies and the imbalance in oil supply/demand. BTY, Asian markets are down again tonight. Phillipines stocks down 7.3%. Japanese stocks, not too bad, down only 0.5%. Tulvio