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

To: diana g who wrote (39680)	3/11/1999 5:38:00 PM
From: dfloydr	Read Replies (1) \| Respond to of 95453

I'm with you diana. These stocks were on the trash heap a week ago priced as if they were headed for bankruptcy because many people were yammering about oil going to $8 or $5 / bbl. With oil at those levels, many of these companies would certainly soon be history. Now oil is at $14. To me, even if oil does nothing here, most of these companies will find a way to make a living, complete projects, get new business and carry on. If oil stays around $13 - $14, they are worth 150% to 200% of present prices, and that will suit my portfolio nicely. If oil goes anywhere higher in the next year or two, some of these are going to head for 300% gains. I can not see jumping off the train just because it slowed down a little today. I'm not sure the train will back up to fetch me and I can't run fast enough to catch up when oil has a good day. Somewhere here the shorts are going to be covering and the funds are going to rediscover this industry. Many of these names would double if they got up to a 12 P/E.

To: diana g who wrote (39680)	3/11/1999 6:30:00 PM
From: Mike from La.	Read Replies (2) \| Respond to of 95453

Diana, I agree with you, the Saudi's have been very cautious about raising false hopes. They know that a two day spike is not worth the downside. I personally pay zero attention to what traders say, they are always looking after their own interests first, and if they can get a self serving reaction, they will. Funny how many long term "back up the truck" guys have become short term traders. That's OK if that's a person's style. Stocks will always go up and down, and anyone is safe in predicting that they will be movements. To me, the long termers who averaged down, and bought at or near the bottom, should be the ones celebrating. Yesterday WTI was higher than it was a year ago at this time. First time the year ago comparisons are favorable. There will be ups and downs, but I think there will be plenty of people looking to buy on dips, which will limit the downside. As to whether OPEC will cut, check out the OPEC contest score card. It's not over yet, obviously, but many well thought out opinions are there. My hope is that the cyclical movement that was interrupted by; 1. Asian downturn, 2. OPEC overproduction, and, 3. two warm winters, will resume it's upward movement. For someone with a 6-18 month investment vision, patience and sticking to the strategy is going to pay off well. At least it looks like the tide has finally turned, as so many have predicted it, sooner or later, must. When I'm looking at stocks that can easily move upwards by factors of 3 or 4 over the next year or so, I'm content to let nature take it's course. As an investor, rather than a trader, I'm sleeping a lot better at night. "Course, still have the OPEC meeting to go. Fat Arab lady hasn't sung yet. Mike