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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: John Doyle who wrote (52863)10/12/1999 4:46:00 PM
From: hdrjr  Read Replies (2) of 95453
 
John,

I hope you are correct in your implied "don't rush to judgement". However the lower end of Gary B.'s prediction was a move up to the 75 to 81 range in the OSX. Obviously, we hit the 75 earlier and could not follow thru. FWIW, I agree with your implication and look for 80-81 before we halt again. Depending on the time it takes to get to 80, that may will be the 50 day ma. I will let my stocks ride for at least three more days to look at API, DOE, and rig numbers. The trend is good in all of the above and now we hear (for the second time) talk of day rates increasing. We all know that the rates are/or will increase, it just needs to be more evident in terms of slight increases in 3rd quarter earnings and more street bandwagon jumping. A lot of companies announcing next week and yet we have had only one warning, Haliburton, and they took immediate action to sell the losing JV's. From the press release it appeared that their drilling activities were holding their own.

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