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

To: SliderOnTheBlack who wrote (27772)	8/14/1998 5:50:00 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

They all hit 52 week lows today. Come on Slider...don't you see what's happening in this sector? Not what you WANT, what you SEE! Slider, what do you see?

To: SliderOnTheBlack who wrote (27772)	8/14/1998 6:27:00 PM
From: Douglas V. Fant	Read Replies (3) \| Respond to of 95453

Slider, I cannot answer if EVI should have been subjected to this level of pounding. But I do work in the energy industry. And might it help you to know that our energy concern (like others) are basing our business plans upon a turnaround in Asian energy demand in the 2d half of 1999? I too bought EVI today @ $20/share, and then sold a Sep 20 call option @ $1 1/2. There were some huge block trades today on EVI, including one block trade of 285,000 shares which suggests that funds unloaded. Usually after a huge drop off a stock takes a few days/weeks to "get its legs" and also Sep/Oct is usually a weak period for the market- so I chanced selling the Sep 20 option. If EVI dips further, I'll hold from here, and double my position if it hits $16/share. Note that book value is about $12.80/share, and I believe that this is calculated after the writeoff related to the Weatherford acquisition announced last month- but I'll check that point... Note too that I first bought this stock @ 27 5/8ths, then stoppe dout @ 24 3/4's, so this is my second entry- and I also doubled the number of shares I bought today. Short-term, these service sector shares could go anywhere. Long-term, with many major world oil fields reaching maturity, look for lots of service activity to be necessary in order to maintain a 75mm bbls/day average for world oil production..... You don't just punch a hole in the ground and ready to use oil sprouts up. There's about a dozen steps from the ground to the refinery and the service sector is involved in the majority of them. I'll be watching BHI and SLB too..... Sincerely, Doug F.