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

To: Gary Burton who wrote (40960)	3/26/1999 12:29:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

''OIL'' as in Triton Energy, or Oil the commodity ? OIL the company - I do not like it for a multitude of reasons - will eternally lag imho. PGO has a seller - but not losing it's support line imho. I see $16 on its next move and $20 as a reasonable midterm target. Couple of Investment Houses have $30 as 1999 current price target - not unreasonable imho. Their FPSO bizz is a brilliant move and they will reap the rewards in a big way on the return of Cap Ex spending and project activity. I don't see any ''major'' violation of $13 7/8ths here - it's allways been a trader - profit taking ? PGO's stochastics are oversold and bottom Bollinger Band is violated at $13 7/8ths - $14 1/8th - I'm a buyer there and on down in a BIG way; prepared to make PGO my #1 $ holding here if the opportunity arises - so that says what I think about PGO fwiw... just too solid of a company and undervalued to it's peers right here to go to freefall...like it here at $14ish - an 1/8th either way; and again will sit at $12 7/8ths for a boatload. PS a 200K big block buy in OEI at $6 5/16ths - not a bad short ride from $5 huh....I see $8 as my initial exit if nothing changes here - this one has much, much upside....at $16 Oil - this company takes on an entire different set of financial fundamentals.