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: Alias Shrugged who wrote (28451)	8/27/1998 12:35:00 PM
From: Chas	Read Replies (2) \| Respond to of 95453

Ouch! This hurts. However, my oilfield stocks are only a part of my investments (thank goodness). Sitting at 90% cash in my 401K, so have some dry powder to try to make up some of my OS losses in PKD, RIG, GLBL, VRC, and SLB. Didn't average down in the oil services, so am sitting with some substantial losses. When I am convinced the crude surplus is no longer an issue, then I will buy some more. Not before. Slider: I agree with your general thoughts, there will be a lot of money made in this sector, but be careful. Every time I think it can't possibly get worse, it does. Come on OPEC, get your act together. Good luck, Chas

To: Alias Shrugged who wrote (28451)	8/27/1998 1:42:00 PM
From: SliderOnTheBlack	Respond to of 95453

"RoadKill" ...possible - but, not yet.... Traded 40% of my portfolio in IO - 22% pop in a day; however - I was one lucky SOB - as yesterday was the end of those types of trades - I was lucky, very lucky to get out by a hair... I did not see this blitz coming to this degree today. I do not see the allmost automatic bounce that we had in prior huge individual stock selloffs here any longer - BDI DRQ TBDI FGII RIG & RON had some nice 1/2 day trades...playing that 1 day rebound is over. Because of these aggressive & large individual trades; I am not roadkill at all; actually own lots of shares at great prices - yes if today is a 6% hit or so - I'll own 10%-15 above these prices on average some - 20%... but, I have aggressively traded my way up here; allthough now to speculate in an individual stock is to risky. I will however own a basket of RIG RON FGII EVI - a little FLC SCSWF PTEN & DRQ - thats all for now - maybe a coule of E&P's... However - the distinct posibility of becoming roadkill certainly exists - I am ''buying'' my own business here, so to speak. where some may buy a bar or restaurant or invest in a real estate office, auto shop whatever... and risk it all; I'm risking it all in my own ''little business'' here - starting to buy heavy here today - a little margin - and will turn on margin full throttle along with ''borrowed'' funds on ANY dips (10-20%) from here.... if there is 30-40% downside left in EVI RON RIG FGII - I will be roadkill, I will owe a lot of money - I will be cashed out but, still will have an untouched 401K and a pretty good job and good income.. I just am betting my ''2nd'' home - new car money, any luxuaries for the next 6-8 years here - if I win - I will have as Bob Brinker calls it ''criticial mass'' - I will be able to pay of all debts and my investment cash should pay my bills - I could daytrade for a living and not work at a very young age; If I lose, I will be paying big monthly bills with nothing to show for it for 6-10 years, drive older used cars for a decade and have no luxuaries - hardly the ''goolag''... I am ready, willing and able to make this bet - right here - right now ! This will be a historic sector run - talked about for decades...

To: Alias Shrugged who wrote (28451)	8/28/1998 2:02:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Mike, Any companies involved in field maintenance activities and also deepwater development moving forward. For example- do you know that rates for pulling units have not dropped? Market up, market down you still have to pull tubing from wells and clean and service the wellbores or else well production will begin to fade.... Sincerely, Doug F.