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

To: Crimson Ghost who wrote (42171)	4/14/1999 8:43:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

George, I wouldn't expect these OS company execs to say anything less. After all, they've just got done firing their workers by the tens of thousands, and in the process, trashing those lives. Can't imagine that they'd come out and say that they were all wet when they used the - $12 oil forever - argument to fire all these good people. When the opec cuts hit in May and oil goes over $20 a barrel they'll be falling all over themselves to hire back all those that they so rashly fired. JMVVHO BTW lets keep an eye on the Russell 2000 looks like it's BEGINNING to recover. The next 30 days will tell the tale.

To: Crimson Ghost who wrote (42171)	4/14/1999 9:52:00 AM
From: Wowzer	Respond to of 95453

Personally I think these type of comments are positive in the long term. Let all the CEOs give their doom and gloom speeches that drilling activity will be down and this years earnings will be in the toilet etc. etc. This way zero expectations are built into the market and when things start to look a little better the stocks will really move. The same thing happened with the semi equipment makers who are notoriously cyclical as well. A few years ago when they were making money hand over fist the stocks peaked and started trending down, no one could understand why, CEO's kept saying business looked great for a far as eye could see and business was strong. Not until last Oct. when Semis reported large losses and basically said the business sucked and no immediate recovery was in sight, did the stocks start trending up with the laggards doubling and tripling off their ridiculous lows. I think the same thing will happen with oil service stocks. So bring on the crappy first qtr reports and associated doom and gloom... Rory