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

To: leisuresports who wrote (32177)	11/27/1998 4:05:00 PM
From: VLAD	Respond to of 95453

My advise is simple. These stocks trade like a commodity and are linked to oil prices. If you think oil is going up then buy. If you think oil is going down then sell. Many of these companies have lost 20 to 40% in the past 3 weeks after showing a sharp rebound off a double bottom. FLC in particular has a good % of longer term contracts so it may be a better play then some of the other drillers. I believe that OPEC will sooner or later realize that they can pump less oil but make more money for the oil they sell. It may not change their total revenues from oil but at least they will not be giving away a limited resource. The key question is if they will quit competing with each other for market share or if they will work together. So far it seems to me that the problem can be solved if Ven., SA and Iran can quit trying to cut each others throats. The Saudis in particular need to show some leadership and willingness to make the most concessions since they have been eating the gravy longer than anyone else.