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: Crimson Ghost who wrote (52369)	10/4/1999 3:16:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

George Cole... good points. Last tuesday; some of my fav's hit levels to where I as a trader; have to at least establish an initial position. I have buying power; cash & margin left- to where I will add and be 100% invested with some margin at about OSX 66-70ish - or those levels on my stocks that I listed. I have no problem with making a huge bet on those particular individual stocks at those prices.... those buy limits represent anomalies if seen; people will make serious money from those levels... This is the best position I have had yet this year; with still having some remaining buying power to follow a retrace here if seen. I'll be able to pick up some old fav's if seen... I think the E&P's will move solidly post Q3 reporting after we shake out the crude oil markets... nat gas has settled - buying the NAt Gas plays is fine here...into weakness. Crude needs to blow off a bit - the OSX will not follow in lockstep; as it is allready the reason for the OSX blowing off here... its priced in here.. that is why I am buying "Values" like MDR & GLBL & esv/flc here... and the E&P values like OEI UPR PXD... I like what I own here... I still think we will see OSX 100 by year end; we may not close there, but we'll touch it imho... only a total market blow off will stop that. Watch what another set of 3 Million BOE of API drawdowns does.... another 10M boe over the next month or so; and crude ramps again... $30 crude will be hit imho...

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