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: Second_Titan who wrote (84735)	1/19/2001 11:01:41 AM
From: SliderOnTheBlack	of 95453

"Feb Crude over $31 a barrel, NAZDAQ stalling ?" Quehubo... right on the money. I'd like to see a crescendo burst thru NAZ 3000 and that would create a nice shorting opp imho off of profit taking alone... We're still in the land of 100PE's in a slowing economic environment - sheer insanity. This is another "Deja Vu" NAZ rally - just another 500 points up; but then 700 points down once again coming for the NAZ - a 500 point bounce from the 2300's and then new "lower-lows" of NAZ 2000-2100 coming off of Q1 reporting imo. We have inflated multiples for this economy... I'm praying we can sneak that last OSX upleg under Q1 tech reporting...because that's going to bring "capitulation" and probably the ultimate low to the NAZ Bear imo... Closed out all NG shorts... rotation to later cycle OS/Driller plays & the majors may take some lower yet and the story is old news; as most allready have seen their highs; but some buys out there. I really like the GOM drillers here & CAM, PGO on this blow off... would really like to snag PTEN, or UTI - but, not yet in my range... I'll wait; we still have 6 weeks of volatility here imo; then we'll see what OPEC's cuts do for crude, we'll have more economic news, we'll have mid-qtr visibility for Q1 and we'll be poised for the March to April move...still time to be "averaging back in slowly" and being patient for the next PGO type of blow up; or a re-test of OSX 100 which is still possible.

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