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: RIK who wrote (91111)	5/23/2001 3:32:26 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

RIK [So you have reduced your exposure to O&G stocks in the middle of an energy crisis ] What energy crisis ? ... oil & gas are in greater supply than we've had in months, or the last year - Oil is back to levels indicative of $18 Oil. There is a "DEREGULATION" crisis in California - to where the ultilities couldn't buy forward contracts and/or hedge their Nat Gas.... what were the legislators thinking... some MBA Investment Bankers knew what would happen & the Utilities got it broken off deep & someone made a helluva lot of money on this gig... But, there's all the gas, gasoline & crude oil that anyone could ever want... yes; the futures trading pendulumn is still in the bullish mode; but it won't be for long... not with these API & AGA build & NOT into a continued slowing economy. The bet is that the Fed cuts are going to get the economy back to speed & do so quickly. Don't watch the Fed Cuts... watch the API & AGA #'s... that's what you need to be trading on. remember; this is, was and will allways be - first & foremost; a cyclical sector... tic - toc~ PS: ... "we" are NOT - "a bunch of daytrading goldbugs" ... we are mercenaries... it could be gold, oil, soybeans, coffee, or steel stocks - it doesn't matter... no gold bugs here; it's just that gold has been part & parcel of Greenpump & Rubin's interventionist program & the Street got way, way toooooooooo greedy on the gold carry trade/derivative game & we saw the opportunity & we see the writing on the wall. PS: the only way anyone will get out anywhere near the top of this oilcycle is to do so into total criticism - to be in the vast, vast minority - it's allways been that way, it is here and it will be that way in the next cycle. PS: Rising supply & a slowing economy do NOT make for a winning trading recepie in the 'Patch...

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