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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 (32173)	11/27/1998 1:17:00 PM
From: RGinPG	Read Replies (1) \| Respond to of 95453

What a nightmare. It took me 1 hour to close all my long positions with Waterhouse Webbroker. Meanwhile my stocks were falling 1% every few minutes. I got out with an overall 5% loss on this round.

To: marc chatman who wrote (32173)	11/27/1998 4:15:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Marc: I think we accept the fact that these huge oil mergers are quite bearish short-term. They will trigger cuts in capital spending beyond those mandated by low oil prices alone. But the medium and longer term impact will be positive to the extent that it forces the OS industry to dramatically restructure and engage in draconian cost-cutting itself. As a consequence the stocks will go up much more when oil prices turn higher again than they would otherwise. Short-term, pressure on the stocks probably will continue until the industry starts to dramatically restructure. Soon hopefully.