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

To: SliderOnTheBlack who wrote (28142)	8/21/1998 10:38:00 PM
From: waverider	Read Replies (2) \| Respond to of 95453

>>What possible remaining bad news can be priced into these stocks?<< You said similar things weeks ago. <H>

To: SliderOnTheBlack who wrote (28142)	8/21/1998 10:38:00 PM
From: Robert H.	Respond to of 95453

You are 100% right. ...Today was my last day as a Oil-Bear. Sold all of my Hal, Rig, and DO Puts. It was a great ride down, but all good things must end. Next week I'm going very very long, ...for most of the reasons in your post. ... "In the land of the blind, the one-eyed man is king." Time will be kind to all of you.

To: SliderOnTheBlack who wrote (28142)	8/22/1998 2:16:00 AM
From: Gerald F Bunch	Read Replies (1) \| Respond to of 95453

Slider I have a son that is a driller with GLM, and a brother that is a welder with ESV. the sentiment in the patch is there will not be a turn around for approximately 18 mo. Regards GB

To: SliderOnTheBlack who wrote (28142)	8/22/1998 12:27:00 PM
From: Fredman	Read Replies (1) \| Respond to of 95453

ditto. you said it perfectly, slider. IMO also.

To: SliderOnTheBlack who wrote (28142)	8/22/1998 4:06:00 PM
From: Snowshoe	Read Replies (1) \| Respond to of 95453

>>Personally - I'm CALLING; right here - right now !<< Slider, You see more bottoms in a month than my proctologist sees in a year. For your sake I hope you're right, but if the major averages have another downleg I think the OSX will go down too. Good luck, -Greg

To: SliderOnTheBlack who wrote (28142)	8/23/1998 11:13:00 AM
From: Gameboy	Respond to of 95453

Slider, I wholeheartedly agree with your assessment that the decimated prices of the oil service sector stocks have overshot even worst case scenarios. I believe we've reached the point where greed will overcome fear, despite the constant and repetitive 'Boo! - scared you, didn't I?'' from the fearmongers (who I suppose have nothing better to do because they seem to neither trade long nor short). Being bullish on oil, I believe that oil will rise rapidly to $17/barrel (Brent) by the end of September and am surprised that it hasn't risen more already. OPEC has stated this as their goal but in reality it comes down to their survival. Indonesia has already seen a change of regimes attributable to low oil prices and most other oil exporting countries are vulnerable. The worldwide oil producing infrastructure is crumbling (take a look at Baker Hughes North American rig count: bakerhughes.com but despite all of this help, the ball is squarely in OPEC's court. They started the year over-producing about 3 million barrels/day. To OPEC's credit, they've steadily tightened the spigot without fanfare, without hype, and without false promises. Once they've demonstrated that they've gained the upper hand of the supply/demand equation they should be able to effectively control the market - if they don't, they are at extreme risk of losing control of the oil fields to new caretakers. As fast and as far down as the oil service stocks have fallen, a sharp upturn could easily carry them up as much 25 to 50% - in days, hours, or perhaps even minutes - and at that, most would still be undervalued. My humble opinion, of course. Best of luck, Steve