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

To: The Ox who wrote (41219)	3/30/1999 12:16:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

What's working: Rotation, rotation, rotation .... Spun out of GIFI @ $12 (not a bad little ride from $6-7-8) and caught FGI with a little luck @ $ 15 15/16ths - I'll take that switch today. GIFI holding well on a soft day and I just threw out a few limit buys, hoping to catch some intra-day lows; got lucky and got filled. FGI had outrun where I wanted back in - but got filled.... I'll take a little luck on that one... would love to see FLC retrace to low $7's and RIG to high $27's as well. ...and still love GIFI / UFAB - entered another limit buy order on GIFI immediately after selling; hoping to rebuy any dips once again... the $15-18 area from last fall will happen once Petronius replacement contract is announced. These 2 are simply fundamentally CHEAP ! Also like PGO on any dips here. Morgan called MRO / USX Marathon the single most undervalued Oil Stock today.... I think we've been in that since around $22-3 --- <VBG> nothing like beating the crowd to the party... On the same note - Love KMG here as an Intergrated rotation idea - looks cheap and underbought here; like $40 as a short term target.Watch for someone to start pounding the table on this one soon.... sitting on EEX in the mid $5's here - I see this as a 30% gimmie to $7 - soon, very soon. MichaelH; WFT & CAM didn't have as positive risk/reward profiles as many other stocks imho back then - and still aren't ''my'' value choices. But, - and it is a very large but; they are Institutional fav's and Mo-mo fav's. I think they will always do well on the initial part of any moves - but also will blow off first on any hint of the Street retracing. Just my opinion and what I feel ''comfortable with. The OPEC tide has obviously lifted all boats here - but far better PE valuations out there. Some of the high flyers ''could'' be Q1 earnings release ''retracement-ducks'' - as we acknowledge that earnings, dayrates & utilization will once again be the topic D'Jour come Q1 reporting time... both CAM & WFT are top tier companies and no-brainer longterm holds; but not the upside remaining as many more reasonable PE valued peers imho. SII/Smith Intnl I also put in that group of not being cheap... these look ''fairly'' valued to me here - all things considered. Just too many fundamentally inexpensive stocks still left. That is not to say that they can not and will not perform inline - I just prefer the stocks with better earnings leverage/valuations nearterm. good luck