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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: oilbabe who wrote (49909)8/26/1999 11:47:00 AM
From: SliderOnTheBlack   of 95453
 
BINGO ! <Prudential and JP MOrgan both maintains their overweight position in oils per CNBC.>

... what is totally amazing is that virtuyally every analyst is using $17ish crude & $2.20 mcf gas in their estimates & models. Most acknowledge that the Oil Majors are going to beat estimates by over 20% accross the board here in Q3 - and many independant E&P's as well.

This is ''THE" buying opp for Nat Gas weighted E&P's and even the more ''oily'' names - especially some stocks like MRO -which sub $30 is a conservative, large cap gift here... The commodity prices that we be realized in Q3 reporting is still much higher that analysts estimates... we could retrace substantially here in both crude & nat gas prices before analyst models & estimates would be affected.

This big block selling today totally surprises me... Maybe we need to get ready for the ''spin doctoring'' to return on the Sept. OPEC meeting - but, as Joe Di and others have so aptly pointed out - this is the best thing that could have happened- virtually guaranteeing continued compliance & present production cuts - quota's staying in place.

We are going to have 50% freebies litering the highway here in E&P land... price targets for OEI XTO RRC CRK all nearly 50%+ from here and are presently supported by current fundamentals - we only need to realize historically normal valuation multiples in most cases.... There is going to be a $hitload of money made to those who dive in here shortly..... the run to Xmas is going to be very, very profitable.
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