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

To: Crimson Ghost who wrote (27663)	8/13/1998 5:06:00 PM
From: Don Westermeyer	Respond to of 95453

OIL STOCKS: HOW LOW CAN THEY GO? smartmoney.com

To: Crimson Ghost who wrote (27663)	8/13/1998 6:09:00 PM
From: Grommit	Read Replies (1) \| Respond to of 95453

Anyone waiting for good news to buy the stocks will miss a good part of the move. I do not mind waiting. I have been travelling for 2 weeks and on my return I see OSX is down 16%. And Slider is calling another bottom. I think we will see good news on the oil supply and production and on rig count before the general public sees good news on dayrates and EPS estimates. We will have plenty of time to reenter this crappy sector. I do not want absolute bottom, but I am staying away until I see a reason to buy. (Except for HLX, which has great backlog and great insider buying). Hope it comes soon, but not holding my breath.