Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: bobgh who wrote (1250)	2/25/1999 12:13:00 AM
From: Fredman	Respond to of 2282

Ancona said the same thing i have been saying for the last 3 months: To the fundamental Investor, there is no reason to invest in any Oil AT THIS TIME because there is no real turnaround in sight. Putting money here is dead money, why park it here when you can make money elsewhere for a few weeks or months, come back here, and see that things will not have changed a whole lot. NO, i don't mean GLM specifically, i mean the entire sector in general. But on the flip side, it is VERY VERY hard to ignore DO RIG GLM and NE at these prices...... as well as about 20 others. the 4 aforementioned are my favorites, but i also like UTI and BHI. I am averaging in to all of them on a semi-limited basis.

To: bobgh who wrote (1250)	2/25/1999 10:00:00 AM
From: Robert Douglas	Read Replies (1) \| Respond to of 2282

Thanks for the “Individual Investor” article. Very interesting, here are the most revealing comments from the article, IMO: No matter how well-run these companies are or how attractively valued, the price of a barrel of oil is what they live and die by and that price doesn't look to be rising anytime soon. near-term, there is no catalyst for upside in sight. With oil at current levels, this isn't going to happen anytime soon. But it's equally hard to see a rapid rebound of prices from current levels because of the extent of (stockpiles).' Our advice is to stay away until there's better forward visibility because as Joseph Ancona, an oil analyst at Burns, Gusts & Co., so eloquently pointed out 'Gloom, doom and despair is no longer an exaggeration.' As a contrarian, this is the stuff you love to see. Not only are things bad but they aren't going to get better for a long time. Of course there is still room for the ultimate buying opportunity which comes when the pundits say, “Things are bad but they are will get much worse”. -Robert