Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (28285)	8/25/1998 11:27:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

Not buying here. The trend is still down for virtually all these stocks. Look at the chart of your blue light special CXIPY, for example. Is it possible to make money trading the long side against the trend? Sure it is; maybe even today. Is it a good percentage play? Not in my opinion. Not according to any of the texts on trading I've ever read. Not according to the professional traders I know (admittedly, I only know a couple). There should be plenty of opportunity to trade these stocks when the trend turns. Averaging in some for a long term hold would IMO be a better play than trying to make a short term trade against the trend. EDIT: The OSX just upticked. If it goes straight up from here, I want full credit as a contrary indicator. <g>

To: SliderOnTheBlack who wrote (28285)	8/25/1998 11:33:00 AM
From: SliderOnTheBlack	Respond to of 95453

Diamond, Diamond, Diamond...at least learn when/how/why to short Diamond, Diamond, Diamond....timing is everything ! ...from the psychobabble - pontification thread... <<Oops! My order to short CXIPY was rejected because ya' can't short ADR's...learn some, lose some. The stock has broken down this morning and is below previous support. Think I'll try some puts.>> Trying to short CXIPY on a fund's final dumping off of a liquidation/redemption demand ? This is certainly contrarion to the standard rule of shorting off of any strength... CXIPY, SCSWF & CLB have been noted in recent news releases as being artificially sold off due to a specific individual fund having to dump their especially large holdings in these 3 stocks, due to redemption demands. Of primary importance would be timing here; as the ''just'' of the article was that these 3 were perhaps the best 3 individual stocks for having the best prospects of actually increasing earnings and holding well against further downturns in the price of Crude Oil and any corresponding Oil Patch sell offs... The fund managers have been on record as having bought these 3 for just that reason... I get a great laugh from all the psychobabble, theoretical & philosophical ''talk'' on how bearish you guys are on the oil patch and how you're shorting everything... but, some how I really get the impression that you're not really short anything (other than guts & common sense) because that little finger just trembles anytime you even start to click on that mouse button for a short trade - talk, yeah - all talk,,, start posting those ''short calls' - we don't need to know how many shares/$ etc. - that is personal, but just give us your favorite 3-4-5 short trades; post when you short and let us know when you cover.... - hell ''paper-trade'' to your little hearts content here... just make your specific calls public - as this will finally put you on record to where you can no longer do ''the dance of the sugar-plumb fairy'' accross the Strictly Driller thread any longer without impunity ...PLEASE, be specific & go on record. I am happy, you are finally posting specific trades or attempted trades. I have no problem at all with anyone being bearish, or selling short - it is only that it is just a clear and ''easy read'' here on people who did loose alot of money, like many others here... But, now they don't have the guts or conviction to buy when we are basing off of both technical & fundamental bottom indicators and the worlds political/financial situation poses an allmost immediate potential catalyst just lingering to trigger an instantaneous spike upward in crude off of any number of events. You & others are merely crying wolf in a sour grapes mode - definitely not any altruistic intentions on your behalf imho. good luck - I'm just happy you're on the record. I'll take the side of Warren Buffet here; along with posters like Sarge K - ''who get it'.'' Buying when the rest of the world is selling or has sold off and all the bad news in the world is out - has been fundamentally & historically proven to be THE superior high return technique tested by time. During June/July - we broke through key support/price/valuation levels where it became apparent that Institutions were not willing to support these stocks at very cheap valuations in the face of superior to the market earnings; and instead unquestionably they were using crude oil prices as a proxy to this sectors stock prices using these disproportionate individual stock selloffs as buying opportunities... What is IMPORTANT here currently; is that one learns from his mistakes. I have; and now that Institutions have seen a bottom in crude oil prices (key concept here); we are both technically and fundamentally at THE DAMN BOTTOM ! We have some stocks selling at less than net asset value, undertaking shareholder rights plans, being sold or buying others and unbeleiveably many are getting new increases in capital spending lines to INCREASE exploration or to buy assets ! - the lenders are not stupid - they know this is the bottom also - that's why companies like Swit Energy, Hanover Compressor and too many to list are ramping up production capacity... Beat the crowd to the party - all the ''earlly warning'' signs of a true bottom are being displayed by those that were SHORT/BEARISH - and remember that the first ''true'' OPEC cut numbers have yet to be released - as the prior numbers didn't reflect the efforts/performance by all member countries... Too many reasons to list here as to why the former bearish/short feel we are at THE bottom - NOT my opinion, but theior actions are clearly stating this - look for the signs they are everywhere ! - one simple one is the support of the land drillers like PTEN - check their call options and tell me the market is not bullish on PTEN! BDI - UTI as well are at strong support levels - you technical bugs ought to be buying the hell out of a few of these stocks....

To: SliderOnTheBlack who wrote (28285)	8/25/1998 12:43:00 PM
From: upanddown	Respond to of 95453

Slider: Not sure what to make of CXIPY and its sell-off today. It is supposed to report 2nd qtr Thurs. It has had three consecutive quarters of enormous positive earnings surprises averaging 80% and appears to be dirt-cheap. biz.yahoo.com I've guessing that good 2nd qtr earnings may be accompanied by cautionary statements about declining business conditions. Heres a French company that has sold off dramatically in Paris this year in the face of a huge rise in the Paris market. John

To: SliderOnTheBlack who wrote (28285)	8/25/1998 7:48:00 PM
From: Elmer	Read Replies (1) \| Respond to of 95453

Slider, yes I did some buying today. I jumped into PTEN today in a big way (relatively speaking, of course) today. I think this is one of the most pure oil plays in the industry and has some tremendous leverage to utilization increases. Thus, if oil prices snap back which I feel they have a chance to this fall, I think this beaten up stock will move up pretty strong. Maybe it gets cheaper in the short-term but who knows maybe it moves up strongly. I still think it will be in double digits by Christmas, so I bought my whole position today. I also bought more FLC as the best offshore driller value, imho. Perhaps they sacrificed some short-term stock price performance with the CDG acq., but I feel in the LT, the market will see this was a very good purchase and I decided to take advantage of the market's ST focus. Lastly, I took a small position in CDIS as more of a technology play in the sector that others are failing to differentiate from the rest. I am also looking very hard at GLBL which appears to have some better earnings visibility that others in the sector. I am also going to take a look at NOI as it seems to be getting hammered and it sure looks like a good fit given its huge market positions in some key drilling products. The only problem I am having is choosing what stocks in this sector to buy, they all are looking good to me. Any thoughts would be much appreciated. Good luck and keep up the positive attitude (maybe it will start to rub off on your Lil' buddy Diamond H. I think the H stands for - oh, I better not go there. Elmer