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

To: Aggie who wrote (29160)	9/8/1998 2:10:00 AM
From: waverider	Respond to of 95453

Earnings have generally not come down yet. They will. Since everyone seems to know GLOBEX is up already, a word of caution. This is a sucker's rally that is for trading at best. Be careful and don't get over-extended. While the oil service stocks are moving up (this is the first rally that has broken trend lines), again there is a tremendous amount of overhead selling pressure. Look for another downleg in the market shortly and conserve your cash. <H>

To: Aggie who wrote (29160)	9/8/1998 11:26:00 AM
From: Tulvio Durand	Respond to of 95453

... Common sense tells me that the rig builders are going to be followers in whatever rebound we experience in the sector, not leaders ... If today's rally is any indication FGII is outperforming the OSX by a factor >2:1. And looking at their relative performance on a longer term basis, say during the last six months, FGII appears to move in lock step with OSX, albeit with magnified movements. tscn.com One might conclude from the data that FGII neither leads nor lags the OSX and, if OSX were to rebound, that FGII's gain could reasonably be expected to be significantly greater than OSX's. Tulvio