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

To: marc chatman who wrote (28354)	8/26/1998 8:20:00 AM
From: marc chatman	Respond to of 95453

Maria (cnbc) saying oil drillers should get hit hard again today. She completely misreported the Gulf lease auction. She said the prices were down from last year (I think she said 40% or 60%); then she said "these are the prices that these companies get for their products and services." No joke. Obviously Maria reports what she is told, without any independent thought or critique, but it seems as though her source of info on this stuff is someone who wants to do as much damage as possible to the sector.

To: marc chatman who wrote (28354)	8/26/1998 8:20:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

marc; I think that people will shy from Oil sector/energy funds and we are seeing a redemption run on them. The next buying surge imho; will be from value funds & small cap funds buying most of our companies who fall under that $1 Billion market cap level. Maria B/CNBC just told the world that the low lease $ from the GOM will lead to further weakness in the sector & alluded to the continued downgrades of the sector & crude price expectations... ***Have we learned here yet; to sell when they say Buy or upgrade; and to Buy when they say Sell/ or downgrade ! We may even see a surprisingly flat or slightly up day after the open as the Big Money is ususally buying in scenarios like this...