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

To: still learning who wrote (41759)	4/7/1999 2:23:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

<< I thought UFAB was "the one" >> still learning ? ....SargeK is the official ''UFAB-man'' (VBG) - see him... Rule # 1 - ''rent them - don't own them'' (VBG)...remember; tis' allways better to have a brief affair - (even an occassional one night stand) with the oilpatch than a May-November, or Novemeber-May Romance... ''Location, location, location''....same as in the restaurant bizz - change the ''L'' to an ''R" in the Oilpatch - ie: Rotation, rotation, rotation to the ''location'' that is actuallly making $ off of crudes rise of late. Crude Oil moving up, or at least holding firm, but the driller & service stocks are selling off; unlike the driller & service stocks - the Intnl Oil's, Integrateds and E&P's are actually putting more money in the register and on the bottomline here ... Major Oil's get their price targets raised today - see link below; and the OSX continues towards at least a 20%+ retracement from the top. cbs.marketwatch.com I am surprised we are not seeing buyers stepping in here in individual stocks.Given even moderate OPEC compliance and crude prices - we are under ''fair value'' imho - but what I think doesn't matter - I will ''do'' what the market is dictating. One other thing the Street has shown us - is that they will move in and out in unison.... some "MM" gets a few large buy orders from Fidelity Select Energy etc - then the phones start ringing and everyone jumps in... same on the way out... It does seem however that we may get another 6-7-8% up day out of the blue - there have to be some Institutional buyers twitching here on RIG, FGI, PGO, VTS,SDC - the land drillers are going back to hibernation-land; anyone wanting another crack at PTEN is going to get it shortly...$4ish - I may throw a little in the looooong term drawer, UTI at $6/7 again would be nice as well... I do confess - I did buy FGI today as well - I want that short covering to be allllllllll mine when it does happen. - next shopping stop $10-11 if we see it... I like FGI here and averaging on down into this earnings period. FGI reports at the end - May 11th or so; I plan to buy FGI into this selloff as when they report - the damage will allready be over within the sector - and they will once again more than likely meet estimates and ramp off of their earnings release - looks like another $12-18 run again to me....and I'll gladly chase it to $10 - doubling down.... I know that 6-7-8% up day is out there - I can smell it.....don't see a return to OSX 45-48 - and will start nibbling/averaging down in core holds - just RIG PGO, and a little FGI & FLC for me - traveling lite...can't resist averaging into FLC for a little ''action - juice'' - this is either a $2 stock, or a $30 stock in 12-18 months; risk vs. rewardwise I'm leaning toward the $30 side....(VBG). Who's buying ? - we know you're out there !!!