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

To: SliderOnTheBlack who wrote (32189)	11/28/1998 9:29:00 AM
From: dealmakr	Read Replies (2) \| Respond to of 95453

Slider, I do agree with your scenario, but buying on margin without making sure a bottom is in can be very painful. I know because it happened to me. Crude price must test and retest a bottom to support a large play IMHO. As for averaging in on valuation models, it is a good way to build a long term position. Some brokers are raising margin requirements because of the internut mania and you have to be careful that it doesn't spill over into other areas as it could dry up a lot of liquidity. I am looking for more consolidation in the sector, but even then there hasn't been a lot of premium paid lately FLC/CDG,PKD/SESI. Look for the strong to get stronger and some of the weaker players to find partners. Who has the most cash,least debt and is best positioned to ride out the tough times would be good places to be speculating bottoms on IMHO. Good Trading Dave

To: SliderOnTheBlack who wrote (32189)	11/28/1998 12:50:00 PM
From: shane hartman	Read Replies (1) \| Respond to of 95453

>FGII @ $8, RIG @ $18, RON @ $16 Slider, if we see these prices again I will load the boat!

To: SliderOnTheBlack who wrote (32189)	11/28/1998 1:30:00 PM
From: Crimson Ghost	Respond to of 95453

Slider: Agree with everything you said in your latest post except the idea of averaging down. This can be very dangerous to one's financial health. I have a modest position in the OSX now at a modest loss. But I do not plan to increase it until we get buy signals again on Ron's charts. But when these buy signals come I will be vastly increasing my position with the idea of holding for at least a year.

To: SliderOnTheBlack who wrote (32189)	11/28/1998 5:34:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

Slider: Your posts show a tremendous knowledge of the oil service industry and investment markets in general. Are you perchance an oil service analyst or an oil service executive?

To: SliderOnTheBlack who wrote (32189)	11/29/1998 8:54:00 AM
From: Snewts	Respond to of 95453

Slider, Always enjoy your enthusiastic posts and your attitude, although I'm not buying here. The following is a list of the drillers, along with their Friday close, their 52 week low and the percentage above that low: ATW 20 1/2 15.06 36.1% BDI 5 1/4 3.06 71.6 CDG 17 13.25 28.3 DO 23 7/8 20.06 18.9 ESV 10 3/16 9.25 10.1 FLC 9 13/16 8.25 18.9 GLM 10 1/16 8.25 21.9 GW 1 1/8 .87 29.9 HP 18 3/8 16.12 13.9 MRL 9 1/8 8.00 14.0 NBR 14 5/16 11.75 21.8 NE 12 5/16 10.75 14.5 PDE 7 15/16 6.12 29.6 PDS 11 1/8 10.00 11.2 PKD 4 1/16 3.87 4.9 PTEN 4 3/4 4.06 16.9 RDC 10 9/16 9.00 17.3 RIG 26.00 23.00 13.0 SDC 13 9/16 11.62 16.7 UTI 9 3/16 5.34 71.9 This is very difficult to read, but if you just look at the last column which shows the percent above the low you will see some that are very close and others that still have a long way to go. This kind of chart sometimes helps me pinpoint a good short or long candidate. I have been short for the last two or three weeks, and I plan to cover around the OSX low of 47, and begin to accumulate these stocks at their lows. I'm not in a big hurry, because I believe we will have ample opportunity to buy them at very low levels.