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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 (36482)	2/2/1999 6:13:00 AM
From: Ditchdigger	Respond to of 95453

Noticed both recent large blocks of PKD were sold through Lehman Brothers.Also see they were the firm who downgraded GW a while back..any significance to this? Or coincidence..DD Edit-guess not Salomon Smith Barney has done most of BHI's..

To: marc chatman who wrote (36482)	2/2/1999 6:21:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

re: Mutual Fund Dumping (Merrills etc...) It was a prudent call to expect end of month window drerssing by fund managers here; but as Merrill unwound major energy positions in its fund; don't think that some buyers just stepped aside to wait untill the selling stoppped. As it appears to be tappering off, I'd expect the value funds to step in to start buying here. VTS & PGO look very good here, DRQ a small call niche player looking cheap again, RIG selling at a lower multiple to DO ? - a market anomaly there to BUY imho. FLC's risk to reward is enticing here; Gary's technical entry point should be watched ... we are a day, or two away from a OSX 45 bottom - the technical buyers will move in here as well imho. Traders as well have to be ''in'' at these levels - given the OPEC meeting... The fundamentals factors driving crude prices are slightly better, not worse than we had during these last 3 cycles. We are still drawing down crude supplies Globally, irregardless of refinery anomalies as they tweak prouction balances. OPEC is still showing good compliance, the production cutbacks, delays and shut ins are having an effect and will really start to show up in the coming months. The Liquidity via Global stimulus & rate cuts will have an inflationary effect, the US economy is on fire, demand is growing Globally; the trend is slowly building more positively for crude oil's supply/demand balances to be brought in line. The potential ''spike'' catalysts are all to the upside; surprises in Asian demand, and/or new OPEC cuts will move us up quickly. Also, upside supply reduction surprises due to the productions cutbacks will start to show up statistically very shortly. Buying here is a contrarian move within a contrarian move, imho. Time to stay consistant <VBG>...