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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: ChartMan who wrote (1497)	4/29/1999 4:29:00 AM
From: zalesky	Respond to of 2282

To all: I unloaded today at 14 and change. I believe we'll see a slight pull back down to the upper 13s to lower 14s once oil futures once again go below 18 bucks/barrel. Still Bullish on GLM but will tend to be a short term trader of this stock. Good Luck!!

To: ChartMan who wrote (1497)	4/29/1999 9:50:00 AM
From: Robert Douglas	Respond to of 2282

The interesting thing about yesterday's move in oil is that the market still doesn't believe it has long-term staying power. The oil futures market is heavily backwardized with June 99's contract a full $2.14 above June 2000's price. A normal market always has the distant contracts selling above the nearby to reflect the costs of storage. I believe this is very significant for the oil service stocks since drilling programs depend mightily upon future perceptions of oil prices as well as current cash flows to pay for the drilling. Until the market is convinced that the price of oil will stay at these levels we will advance only slowly. But every week that passes with the price of oil up here will help. The good news is that we still have a long way to go, it may just be a wild ride to get there. IMO. -Robert