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

To: Big Dog who wrote (38375)	2/26/1999 11:00:00 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 95453

I just posted the Reuters headline. Sold at a small profit today. With the new debt announcement coming and being so close to unmarginable, the stock looks like it could take a short term plunge soon. Think I'll chance it and wait.

To: Big Dog who wrote (38375)	2/26/1999 11:18:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Big Dog; couple of questions... I do not see where the continued weakness on RIG is coming from; allthough it is a low volume slow bleed vs. powered high volume blowoff dumping. I am a buyer here - but realize the technicals support lower lows for RIG - so no arguement with keeping some powder dry for averaging into RIG in 2-3 buy ins. Any word on the Street about RIG ? Their Earnings estimates support a little better shareprice here when compared to other general Oilpatch fav's like say RON, WFT and other even drillers. RIG has higher ''normalized'' earnings upside - than most of its peers, which as a patient value player I am willing to wait for; but this tells me that the Street see's perhaps some drillers in shallow water picking up first here; and that the shallow water GOM Gas drilling activity will pick up and impact earning more so, than any deepwater contract pricing/utilization improvements will the Deepwater Companies. Do we now have a reversal of shallow water vs. deep - sentimentwise ? Could bode well for the Jack Up boys... PS; on FLC imho - it is a ''RISK" oriented play - but priced accordingly. FLC requires tight stops and close monitoring - but only becomes an ''unclean untouchable'' when they start showing ''losses'' or can not raise cash... still a long way to go there. But; is their better balance sheets out there, safer plays ? - SURE ! But what is the near term upside for RIG DO NE here - maybe RIG goes to $30 - so 50% max upside ; FLC only needs to get to $7's to $8 (1/2 of it's 120 day high) to get there... Am I the only one who feels that the ''Sentiment'' on FLC is overdone here ? Imho; it's at a level of a company that would be reflective of losing massive amounts of money and incapable of raising cash... FLC isn't quite in that catagory from where I stand...? Also; Rauscher released their main report on FLC on FEb 11th - this isn't the reason for a new selloff imho - they lowered their rating in an analyst report back then...I have a copy... PS - I'm upgrading my profit expectations from the ''Navigator'' level to the new ''Excursion'' level ...what boat class are you now in Sarge ?