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Gold/Mining/Energy : Nabors Industries(NBR) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis J. who wrote (106)	8/20/1998 6:54:00 AM
From: TheSlowLane	Read Replies (1) \| Respond to of 174

I'm not intimately familiar with NBR. I just established a long-term position in May but have seen it go from 25 to 16 in that time. If the stock can plummet 36% in 3 months, perhaps is can make up ground just as quickly. It's going to have to go up 50% from here just to get me back to breakeven. Doubling from here would put it at 32, or just 25% better than my purchase price. In that light, we're talking about somewhat less than 35-40% compounded. I am considering averaging down but the time to do it is probably now. The sector seems poised to recover. A few of the other stocks that I hold in this sector (EOG, DI, LYO) that have all been mercilessly punished all caught the updraft in the sector yesterday. Hopefully the recovery will be as swift as the decline, but I suspect it could take a little longer.