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

To: marc chatman who wrote (27621)	8/13/1998 8:38:00 AM
From: diana g	Read Replies (5) \| Respond to of 95453

Hmmmm.....Sure sounds like good news. If other producers join in, as suggested in the article, it would be just the move they talked about a while back----Sudden surprise cuts. It will likely burn the fingers of some oil traders and make them wary, I would think. Still, it does nothing to increase Consumption. How do you think it will affect Drillers et al? (Can't be bad, at least! <G>) regards, diana

To: marc chatman who wrote (27621)	8/13/1998 9:08:00 AM
From: SliderOnTheBlack	Read Replies (4) \| Respond to of 95453

Train is now boarding -- last call & all aboard ... ...I said to mark the double bottom on your calendar as ''the'' turning point - not necessarily ''the'' bottom (...see hand grenade theory on being close) as we have a confluence of events that could not be any better for the oil patch. Yes; folks even CRAMER is now buying the patch; (anyone see him on CNBC yesterday - 2 times asked Susan Byrne for individual names of who she liked in the patch & did you pick up the Baker Hughes quip?) give the man credit - he had his reasons on being down on the patch earlier (great call) and now is going long for the following reasons: from TSC: subscribe ! thestreet.com <<I want to buy them when they are under the massive pain of liquidation from the dedicated sector fund guys who have to puke them no matter what because of redemptions. And make no mistake about it, redemptions are behind these new levels of lowliness. Sector funds and hedge funds that were drawn to this group have to sell to meet the demands of their investors. So I must buy, because ARTIFICIAL selling cannot last forever. It ends and bargains stop being created as the companies begin to react, as we saw Tuesday with the Cliffs Drilling (CDG:NYSE) bid. ...... But when the artificial process of stock recommendation removal collides with the simultaneous forced liquidation of stocks by owners dedicated to the patch, I take the other side of that trade any day. >> ***** Be as conservative as you wanna be; but do get at least ''a piece of the action'' at these prices now ! For those who just want to dip their toe in here - be conservative; get a piece of the larger cap stallwarts - SLB, EVI, RIG, RON...for a little more risk and volatility upside - FGII, and your driller of choice - MDCO FLC NE DO or even a land driller like PTEN UTI BDI; want the best of both worlds - high upside, continued earnings expansion and not just a recovery bounce; - OMNI DRQ CDIS CXIPY SCSWF CLB. Take your choice; but DO get aboard here. Remember the Saudi Oil Minister has a ''veiled threat'' still hanging out there that is directed toward what only can be termed as ''revenge'' toward the artificial manipulation of crude by market traders... don't forget this in addition to the aformentioned Saudi action - this is far from all over ! OPEC cuts have a substantial lag time - we are not yet seeing the effect... crude is NOT going to $8, but it isn't going to $18 overnight either; point being is that we are gradually recovering to normal ranges - slowly, but at least surely. We saw how the ''pop'' in this sector can be 20-30% in 48 hours on these stocks - it is building; on any positive crude news - we will see nice gains and accumulation is starting - at least start averaging in here ! Prudential just cut FGII's Q3 earnings by .04 cents, but raised Q4 by the same amount - just a delay in a project perhaps ? - maybe part of the reason for the selloff was an over reaction to this news, in addition to fund redemption and its all most unique status of still holding a gain YTD for shareholders and the final profit taking in FGII... PRUDENTIAL also announced Strong Buys on : OMNI (watch this one!) BDI UTI EVI FLC GLM NE SEI ...watch for some short covering in the patch starting right about now.