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

To: SliderOnTheBlack who wrote (36551)	2/2/1999 5:05:00 PM
From: Captain James T. Kirk	Read Replies (1) \| Respond to of 95453

Crude sinking, -.15 API report must be bad.

To: SliderOnTheBlack who wrote (36551)	2/2/1999 6:25:00 PM
From: Gary Burton	Respond to of 95453

Still anticipating a new low in OSX--crude needs to print below 11.85ish and then hold, refusing to revisit sub 11, and after that rally above 12.90ish to verify bottom is in. holding above 12 tomorrow means nothing, bottoming a bit below 11.85 means a lot. API report may do the trick ----If osx prints below Monday's low in mid48's, the downtrend is still in effect. --- fwiw, my trading software flashes likely targets on the downside based solely on the MOMENTUM of the most recent and the current waves (nothing to do with EW)and PROVIDED that new lows are printed below those of say a month or two ago (eg as has already happened with FLC,PDE,RDC and a few others). Often I have found that the prices get close to these points before they rally back up, from past experience. At present, the following target areas are flashed---FLC 6-6.25, PDE 5.88 then 5.19, VTS 10ish (ouch), FGI 9.88 then 8.38, RDC 8.38 then mid 7's, ESV 7.63-8, GLM 7ish, RIG 19ish, RON 19.75-20.63, DO 19.50-20, SCSWF 5.25.--- As a result of this, I'm not yet comfortable in substantially raising my osx portfolio just yet, although I'll turn on a dime if I see a reason to do so. Still sitting with 80% cash, for the moment at least.

To: SliderOnTheBlack who wrote (36551)	2/2/1999 6:48:00 PM
From: Jon Cave	Respond to of 95453

OT high tech stocks I am glad I am not the only one that sold VTSS early. I bought a truck load of it below 20 and started selling it at 30. I also bought a bunch of PMCS under 30 and sold it at around 45 ish. I think I sold one high tech stock that didn't go up another 50% after I sold. One undervalued networking company that I still hold is XYLAN (XYLN). It is a great buy at 16 ish and still way undervalued at 20. It refuses to break out above 22.

To: SliderOnTheBlack who wrote (36551)	2/2/1999 9:35:00 PM
From: Alias Shrugged	Respond to of 95453

Thanks Slider. Yes, PKD is a land driller, but recently picked up Quail Tools and I think Hercules Barge Drilling (?). They specialize in land drilling in harsh environments. The downturn in the GOM is probably kicking their butts. I have not bought the PKD converts yet; still mulling it over. Do I still hold tech stocks?? Hell no! Too pricey for my blood. Merrill cracks me up: Sell OS at the bottom; buy tech at the top!! Yeah, I want these guys managing my money. -gg Mike