Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: diana g who wrote (47037)	6/30/1999 8:46:00 AM
From: SliderOnTheBlack	Read Replies (3) of 95453

per Diana's comments... correction is over ? Diana I do agree with your analysis - there is not the fundamental reason for a selloff - except; earnings. I think that when people like Bollinger go on record as to saying they see Oil being shorted soon -it's not necessarially a reflection on the Oil fundamentals; as perhaps an indication of who the street is thinking.Personally if we seen any bad news weakness - the Street is on record, on what they will do; I see bad news in earnings - and thus a shakeout...selloff coming. Personally; I think the earnings season coming soon for Q2 is going to be poor. Rig counts & dayrates, mfg. backlogs etc. are not increasing to any real degree. They are no longer falling, but haven't really gotten a positive foothold yet either. As such; be it on a poor EIA/API number release, or more likely off of a poor earnings reporting season - the Street will do one of their shakeout runs - and if that takes us to the low, or mid 60's is a guess... I would think that a 15% correction would be a good call... All I am doing is repositioning and raising some cash. The E&P's unlike the OSX will have better year over year comparisons than the OSX for this coming quarter. So I want even more $ weighting there . Also, if DO & RIG get taken down to the low $20's - they are heads & shoulders values above an ESV, RDC, near $20 imho... time will tell..... I have sold some OSX laggards of late and am building a huge portfolio position in CRK - and a couple of other gas stocks. I still think Nat Gas mid/small caps areTHE play through Nov. - Dec. I think the OSX will not really take off untill Q1 2000.... need 150 GOM rigs at work and sub 320 M boe in US storage...untill those fundamentals are reached by the OSX - it's an E&P play...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next