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

To: RGinPG who wrote (32315)	12/1/1998 10:13:00 AM
From: Crimson Ghost	Read Replies (3) \| Respond to of 95453

According to an article on Yahoo today, the spate of big oil mergers is bearish for OS because these merged companies will focus on the bigger fields. They will ignore the smaller fields where a lot of the OS demand originates. The sector is short-term oversold, so a bounce here would not be surprising. But I agree the OSX could go down another 20% if oil hits single-digits. On a brigher note, I am 99% certain this is the final shakeout. Once it is over the OSX will start a long-term bull. Not just another 50% rally that soon collapses. The fact that almost nobody here can conceive of a long-term bull in the OSX is very positive from a contrary opinion perspective.

To: RGinPG who wrote (32315)	12/1/1998 3:08:00 PM
From: Fredman	Read Replies (1) \| Respond to of 95453

I think most of it depends on how long-term their drilling contracts are for, to whom, and where they are working. You and I both know the Oils don't spike like the Techstocks do, but a lot of other people don't, and they get pissed when they cannot get 20% in a week. I AM surprised the Institutional buyers are not jumping in (yet) - perhaps they are waiting for 'the bottom' - wherever that may be ?