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

To: MARK BARGER who wrote (28001)	8/19/1998 3:04:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

If we get ''lucky'' with a continuation of some positive news on crude supply and/or demand statistics and simultaneously continue to see some bearish indicators in the over all market; then maybe we can get a steady inflow of sector rotation funds and fresh Institutional money. "The Bottom" ...ohhhhh how I despise those two words. They have perhaps been the two most expensive words I've ever spoken - excepting - ''I do''..... ...damn; hard to grin when you've taken so many gut shots here from the driller & service sector. Hard to go wrong with new buys in here at these levels long term. For me, I'm trading in & out - building cash and keeping a few shares of long term core holds like EVI, RIG, OMNI, FGII. I haven't seen any intruguing trading opportunities here lately the last few days. I will be very happy to see a ''boring'' up & down basing mode - maybe moving up 6-9% real slow and easy through next month, when I hope more positive OPEC cut/supply numbers come out. Also; maybe Saudi Arabia, Mexico & Venezuela will pull a rabbitt out of their hats... I think with the decent fund buying that we've seen 3-4 different days during the last 3 weeks; that there is obvious interest by the Institutional buyers and they are somewhat comfortable with this being at or near the bottom. Only time will tell; still lots of blood in the streets. We very easily could see a series of 4-5-6 events that could take us up 20-30% rather quickly however. If we get a large correction in the overall market off of Clinton/Lewinsky, Asian, or bad earnings numbers - and also get some action in the Middle East (wag the dog), and then receive some positive crude news - and if the buyers jump in again like the prior friday - and CNBC and the media jump on the Oil band wagon again - we just may get enough wind at our backs to not turn back ? But, I'll take 4 points on the OSX any day...Sooner or later people will decide to take some DELL, Cisco or MSFT profits off the table and eveyone is talking about value investing... Maybe it's time for the oil stocks to get ''re-discovered'' again --- CNBC as I post is talking about RON and the Oil service sector right now - maybe it has all ready started; when I see 3-4 days in a row - then I may just be a believer.