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: SliderOnTheBlack who wrote (47319)	7/3/1999 12:06:00 PM
From: pz	Read Replies (3) of 95453

Slider, <<<I see nothing in the next 3, even maybe the next 5 months to break us out of a 15% up and down trading range. Regardless of crude prices sustaining here, or even breaking $20; cap ex spending and the resulting needed change in fundamentals will not occur untill after Q1 2000. Sure, we may get a breakout off of a Crude Oil breakout over $20, but this will be an opportunity to sell into strength imho.>>> You seem to forget this: Message 10365199 Blowout Rig Numbers - US +17; Land +20; Texas +13 EOM Land drillers are going back to work as the rig count shows. We had to recently get in line waiting for a rig to drill a well. So things are definitley turning. Only a FOOL would sell their oil service holdings at this point imho. I own PKD because it's lagging all the land drillers. When it catches up it will do it with a vengence. Also, PKD broke out of it's trading range on Friday and appears to be heading up. Paul

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