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

To: SliderOnTheBlack who wrote (28440)	8/27/1998 11:04:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Slider, Hey man- I sense that you are getting a little tense on this correction in the oil/oilfield stocks, heh-heh. Well we're al in the same boat if we are long right? Last night I posted a link for some good info on upstream operations. Unfortunately I posted the wrong link! It should have been: upstream.mobil.com Check it out! Now long on EVI an ESV... Sincerely, Doug F.

To: SliderOnTheBlack who wrote (28440)	8/27/1998 11:05:00 AM
From: Douglas V. Fant	Respond to of 95453

Slider, Hey man- I sense that you are getting a little tense on this correction in the oil/oilfield stocks, heh-heh. Well we're al inthe same boat if we are long right? Last night I posted a link for some good info on upstream operations. Unfortunately I posted the wrong link! It should have been: upstream.mobil.com Check it out! Now long on EVI an ESV... Sincerely, Doug F.

To: SliderOnTheBlack who wrote (28440)	8/27/1998 11:14:00 AM
From: Snowshoe	Read Replies (2) \| Respond to of 95453

>>I really feel sorry for those who made fundamentally sound, intelligent buys here and were on margin or had options; because the losses are 60-80% of total portfolios...<< Slider, When are you going to get it? There were plenty of warnings on this thread about the dangers facing this sector. Using margin to make a major bet on a tiny sector like the OSX is NEVER fundamentally sound, except perhaps for a day trade with a tight stop. -Greg

To: SliderOnTheBlack who wrote (28440)	8/27/1998 11:15:00 AM
From: marc chatman	Read Replies (2) \| Respond to of 95453

While I know nobody could talk you out of mortgaging everything to buy this sector, perhaps it will help someone else to comment. If you compare this to any of those other great value plays of the past, you will realize that turnarounds take considerable time. Short term, things can go against you. The people who buy the quality companies at these prices with a multi-year horizon should do well. The people who borrow in order to bet against the trend will, more often than not, have their heads handed to them long before any turn can take place. As for bargains, certainly the stocks here are at bargain levels, but I think the big money has its eyes elsewhere. Look at stocks like TRV, for example. No, it hasn't come down anywhere near as far as the stocks in this sector. And, no, it isn't trading at single digit PE's. But it has come down to levels where the big money will look at it long before it flows into the FGII's, etc. Good luck with your bet, though.