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

To: SliderOnTheBlack who wrote (36993)	2/8/1999 1:33:00 AM
From: upanddown	Read Replies (1) \| Respond to of 95453

''Nattering Naybob of Negativity'' Who,me.....? I'am not really that negative on the patch, Slider. I've got initial positions on VTS FLC FGI PGO and ready to get more of those and some RIG RON SDC CXIPY WFT on weakness. I just can't see a sustained upward move and will only buy them on significant weakness and take profits quickly on strength. At the same time, I just don't see a lot of downside risk. Most of the talk on this thread lately has dealt with technical reasons for expecting a nice upward bounce in the stocks and very little about the business fundamentals of the underlying businesses. Big Dog has more direct knowledge of these businesses than anyone else who posts here and I listen carefully. I agree on the likely bounce so I want to be there, but long-term positions.....hmmmmm ? Maybe no one wants to talk about them but let me list a few negatives us nabobs are fretting about.... 1. Sub $12 crude unable to mount even a feeble rally. 2. Historically low rig counts. 3. Huge decreases in E&P budgets. 4. Major downward revisions in earnings estimates (usually one of the worst-performing stock categories). We both agree on strong long-term potential but I think some people here may be jumping the gun. Don't want to mention any names but one guy's handle might be defined as a hard, flat curve that just catches a piece of the outside corner.<VBG> Luck, John