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

To: SliderOnTheBlack who wrote (43504)	4/29/1999 12:50:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

FLC is the only lagger from the initial Sept blowoff - virtually everyone else if 50% higher Slider, another one that is a real enigma is RIG. Its only up a few points from the Sept lows and not close to its Nov recovery highs around 40. Up nicely from the Jan lows but geez.....no driller came close to weathering the bottom of the cycle as well as RIG....no driller had a better earnings performance this last qtr. I'am assuming that the sluggish performance in this upturn is from Talbert's cautionary comments about half the fleet coming off contract this year. I'am not really complaining since it has been a great trading vehicle (oops...sorry...I never sold, honest !!) but I really expected better performance with $18 oil. I'am fully loaded on it and a bit concerned. Do you get a sense that the market is looking to the shallow drillers more because of the upside leverage rather than the deep guys with their long-term contracts ? John