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

To: drsvelte who wrote (42746)	4/20/1999 11:26:00 AM
From: Aggie	Read Replies (1) \| Respond to of 95453

drsvelte, good morning, I like that take on FLC: "Lowering Ests But Reiterate Top Pick Rating As The Best Leveraged Offshore Driller " What a category to be the best in: "Top Pick Rating As The Company Deepest In Debt and Most Likely To Fold. Call Your Broker Now!" Sure hope we don't get whipsawed by a market correction. Regards, Aggie

To: drsvelte who wrote (42746)	4/20/1999 12:31:00 PM
From: SliderOnTheBlack	Respond to of 95453

Will Crude Oil prices and OSX prices disconnect a bit here ? ...with the beginning here of Brokers downgrading OSX stocks, primarially off of the recent price run ups in relation to the actual existing fundamental earnings, utilization, dayrates & orders; don't most people feel that regardless of Crudes action here - we are about to ''disconnect'' for a bit from Crude prices ? Imho; Crude can basically only hurt us here - we will track down on any retracement to the $16's, but unless we strongly breakout above $18 - I don't think Crude holding well, or moving slowly is going to be enough to keep the OSx moving up, let alone enough to even keep us supported here. - just my .02 cents. All in all; probably not much of a factor for those wanting to buy & hold. However, other than RIG and a very few others, there is not much good news coming in the rest of the Earnings reports here... We have some major gains off of high volume here; as we creep lower; I'll be curious to see where the Institutions/Traders stop out here. They will NOT lose their profits here. The balance of buyers and sellers - given the huge volume of late; is going to artificially magnify the downside move here shortly imho. In all fairness to the Cramers, Farrells and pundits who said the commodity move would not be a continuing story, or a trend; the jury is still out... Aluminum & Oil stocks leading a moderate retracement here. Another factor is that we are not unexpectedly (imho); seeing strong buying support in techs and the internets here. This may bring a pause to the cyclical shift and perhaps, even an end - untill, actual fundamentals support a shift. - the jury in all fairness; is still out. Anyone buying anything here today ? FLC looking good - if it doesn't get hammered on any retracement here - I don't think it will (excepting catastrophic news/rig cancellation etc) and it just may run through DLJ's $16 target. What we need is a week where 3-4 companies simultaneously release some positive news releases like we saw with PGO today, we need some rigs going back to work real soon - or we will enter the deadzone between earnings periods when the price of Oil will virtually have to go to $18-19 just to maintain any positive OSX movement as fundamentals are actually being predicted to continue to slightly deteriorate before recovering in a couple of quarters. In these next ''couple'' of quarters - what will be the upside drivers once the move of Crude Oil to $17 becomes old news ? I did buy some PGO back today, cheaper than I sold it - so I am buying something - I'm trying to do my fair share (VBG)... limits set on FLC, RIG - looking too low most likely, couple of other nibbles and building a couple of major positions in micro-cap E&P's fwiw. PS BIG, I nibbled as well in tech & net yesterday/this a.m. - up 5% so far; small positions - so I could average in if we saw a continuing sell off. I kicked my self 3 times now on not buying AOL YHOO CMGI & a few techs off of these prior blow offs - will look to build a 10% max position hopefully. I think the story could end for the 2nd & 3rd tier players, but the bluechippers on these blowoffs get strong buying support. Even bottom fished COMS which proved its low of $20 holding - company has a little cash as well.... bought ZD on a retracement today into the face of a couple of upgrades and comments on its pricing relationship to its inet tracking stock - long story... I just want a toe in the water here on this net/tech retracement.