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

To: Box-By-The-Riviera™ who wrote (34420)	1/7/1999 1:27:00 PM
From: The Ox	Read Replies (2) \| Respond to of 95453

Now there's a new "frog" in town; and that's the potential "W bottom" developing in the overall CRB commodity index. It's not fully developed, yet, but it threatens to surprise investors mostly of the low-interest rosy scenario ilk, considerably. First of all, it's not a risk yet because markets very frequently see slightly higher commodity prices this time of year; second of all Oil has been absurdly cheap, which it can't remain if Asia is indeed in the formative stages of coming back; and third; we analytically don't see higher commodity prices as a negative, but actually as slightly supportive to cyclical stock earnings recoveries, and in fact ultimately a psychological boost to all markets, as it would be a quantifiable sign that considerably lower commodity prices (deflation) is not on tap. We made a big point last year that deflation is bearish; inflation is bearish and that only equilibrium is bullish; in at least a half dozen Letters. However, a short-term increase in key commodity prices can argue that at least we're not going into a deeper (and dangerous) big new deflation (or Depression beyond those parts of the world already impacted). From: decisionpoint.com

To: Box-By-The-Riviera™ who wrote (34420)	1/7/1999 1:28:00 PM
From: Platter	Respond to of 95453

Here is a smart one from those well paid guy at Wheat First.."Smith International (SII) 30 3/4 +1 15/16: Wheat First Union initiates coverage of oilfield services supplier with "hold" and a price target of $30 as rating reflects current industry malaise; has competent management team that has allowed the company to grow by focusing on value added products and services; however, company's revenues are very dependent on the level of worldwide drilling activity; management team to provide upside potential when the industry fundamentals turn up....."..taken From Briefing.com....Seems like a lot of thought , and brilliance went into setting that target.... By the way SII is at $31.00 up $2.12...OSX continuing to recover up 1.44 points now