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Strategies & Market Trends : Three Amigos Stock Thread
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To: Ditchdigger who wrote (16953)10/12/1999 7:54:00 PM
From: lostmymoney  Read Replies (2) of 29382
 
DD interesting reading:

<oil and gas are in the infancy of a bull market>

I recommend reading "Suppose you're OPEC" by Deafwhale on the Yahoo Pride Petroleum (PDE on NYSE) thread (message # 2665). I believe this is the address:

post.messages.yahoo.com.

It would seem to be hard to deny that OPEC can control the world price of oil, since a mere 2 or 3 million barrels/day either way can make such a difference in the price.

DeafWhale's thinking about what OPEC's course of action will be seems to me to make sense--relatively short term price spikes to grab a little extra cash, followed by enough drop in the price to keep the majors and the cash-poor little guys from investing more in exploration, followed by another short term price spike to grab some more cash, and so on . . . . . And during those price spikes give enough indications of OPEC cheating to keep others from taking OPEC's self-discipline for granted--so you can prolong the price spike longer without inducing others to increase exploration and development.

OPEC ministers are no dummies, nor are they philanthropists. The course of action described by DeafWhale would enable OPEC to have the best of both worlds--maximizing profits while limiting the competition.

On a different tack, I hope your reading of the UP charts is on the money. Thanks for keeping us updated on the technical aspects.
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