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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (6118)	11/5/1998 11:37:00 AM
From: JZGalt	Read Replies (2) \| Respond to of 18928

Tom, RON came out with earnings warnings and layoffs. Knocked the stock down for a while. The whole sector has moved up since the lowest lows in October, but I'm still far below any AIM sells. News in the sector as a whole isn't good. loosbrock.com loosbrock.com Number of wells drilled as well as dayrates continue to drop with no stabilization in sight. Weakness in Gulf is spreading to one pocket of strength (North Sea). Although the price of oil appears to be gaining some strength, the IMF move to bailout Brazil and spread a recession throughout Latin America implies that economic activity will slow even more in that region. That's one less consumer in an area already dealing with an overcapacity problem. Noble Drilling bottomed out around $10 and has bounced to $19 and is now fading. Assuming the trend continues, I suspect NE will once again visit the low double digit area. I bailed early at 16 and change on the rise. ---- Dave