Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (52106)	9/29/1999 10:30:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

Go GLBL !!! OEI - flyin w/ 10K ,10K,5.5K, 55K buys... allready says Q3 beaten... GaryB - now; this is the test here imho... I am not chasing anything up here... wanted SDC,NE,RIG a teeny lower; may have missed them... but ~; lets see if there is any strong selling into this bounce. - THAT; will be the test to see if we go lower Gary. I felt strongly there would be a huge, huge bounce here - by buying heavy; I get the bounce, and the turn & run up if seen; which we could easily do off of the combo of a overall market rebound; and the incredible storage numbers for crude. If we see selling - then I can easily trim; ease off a bit; and "then" and only then; wait for another 5-10% level below this support and that is where the margin throttle gets turned open... Just my thoughts... This was too much of an anomaly imho given the 2:1 decline ratio of the OSX to the overall market correction. Crude is going to reach a "BUBBLE" - bank on it... where will crude be with 275 M BOE in storage ?!?!?! EEX a great trading buy into weakness here... play the bounce; easy 10% pops... and not a bad longterm speculative hold from here. EEX returns to $5 with "any" positive drilling news, speculation etc...

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