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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 (38855)	3/4/1999 9:03:00 AM
From: marc chatman	Read Replies (2) \| Respond to of 95453

Vince Farrell on CNBS touting energy as a value play -- named BR and UCL as two top picks based on historically low price to cash flow and strong balance sheets. I believe the strength in the integrated oils today in Europe is due to a major broker calling BP-Amoco its stock pick of the year, or something like that.

To: marc chatman who wrote (38855)	3/4/1999 9:14:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Marc C; good point on Merrill - but remember - ''The Money'' - after all, it is all ways about the Money. Who has the biggest ''stable'' of traditional Big Money Clients and the biggest cadre' of salesforce Brokers ? - Merrill ! If Merrill doesn't downgrade here to try to ''keep the lid'' on the Oilpatch - where can they direct their clients as we enter a possible strong overall market selloff? Gee, they wouldn't be wanting to buy here would they ? Also, they get to hedge their bets in case OPEC fumbles again; - allthough I am sitting for my next buying opp - if the Street sells off on no new OPEC cuts.... As I see the supply trends going down with merely present OPEC compliance... as such; I think the Street very, very badly wants in here on the cheap - but they also want a sure thing. They want to be able to buy - after they know what OPEC will do... so ''keeping a lid'' on Sentiment - is ''Job One'' ! Remember - it's not what they say - It' s "WHY" they say it ! I think the Lehman (?) just named BP/Amoco as their #1 stock idea - or #1 idea in Europe/Intnl arena... DLJ is having a 3 day energy conference as we speak - any DLJ clients that can post comments ? Big Oil is up 3-4% today in European trading.... Also; which house said weeks ago that they were downgrading the sector - ''only so that they could pound the table later'' - as when OPEC news comes out etc... Yes; this is definitely one time when you want to be ahead of the Street here - the Steam Roller could reverse real quick like... Personally; sitting and licking the chops here - taking some profits and looking for anomalies - ie: CXIPY/VTS yesterday - and today ? The next opportunity is to profit by selling in pieces here as we ride a potential move up into OPEC meeting - but to keep enough holdings, to take more profits on and to sell into further upward moves on good news from OPEC - but also to have taken enough profit here - to be able to buy again into a post-OPEC meeting selloff if we have no news/bad news.... my plan fwiw.