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

To: SliderOnTheBlack who wrote (43132)	4/23/1999 2:08:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

PGO acting great-heading higher imo

To: SliderOnTheBlack who wrote (43132)	4/23/1999 3:44:00 PM
From: The Ox	Respond to of 95453

Slider, That quote was taken from one of your posts made in September of last year or some 13000 posts ago<vbg>. Did you realize that? Just thought I'd bring it up for perspective. Oil continued to go south for the next few months, finally putting in a bottom in Dec. As to how the street is determining valuations for companies, I believe that those companies with low debt and high cash positions are being rewarded. Since there is a great deal of uncertainty as to the "sustainability" of crude prices, it makes sense to put your money into those companies who have shown the ability to stay strong. The RIG - DO comparison is a classic example of this, IMO. As to subsector changes, I'm not sure we've seen this quite yet.