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: IndioBlues who wrote (53993)	11/4/1999 2:10:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

Nov. 9 & 10th not just API's but a "potential" convergence of event catalysts... "If I told ya - I'd have to kill ya"...(VBG). On a serious tone; Nov. 9th is 31 days post the Oct 8th blowoff - capitulation; ie: wash sale waiting period Nov. 9th is an API reporting day Nov. 10th is the day after the API reports (will be bullish) and the first "green light" Oilpatch trading day; as... 1. earnings period basically finished. 2. will be post wash sale period of the intitial capitulation. 3. will be the day after the API's. 4. will be days before the Nov. 17th OPEC meeting ( traders can afford to "not" be in - when good news is released) 5. the "rumor, talk, etc. is out and ..... I am telling you that fwiw; "I" have no doubt that the "Shiek" did sell Citi; and is going to buy "Oil Stocks" - period, no rumor, fact. ... however; what he is buying ? - who knows... when ? now - through the API's is the "rumor"... My info on the reasons why he is; 1. sheer fundamentals 2. Y2K concerns in the ME & 3rd World 3. pre-Y2K euro demand - draws yet to be seen, will be substantial catalyst on crude prices at the height of the normal demand pull - potential bubble is the result in mid-late Dec. 4. OPEC will not only pressure members to maintain current cuts, but will continue through March with present production constraints; present compliance is good and they are still on the same page. Watch crude firm; this talk is in the pits and "ALL OVER THE STREET TODAY" - hardly a scoop by me - I am far from the only one who has access to this "info, rumor,speculation, etc" - whatever you want to call it... it's going to happen imho. Nothing to trade on, because no one has a clue as to what he will buy. I don't - I'd imagine the SLB HAL BHI - BR NBL - big Oil's , Integrated's KMG MRO ? & large caps in general for the liquidity, maybe index calls ? - who knows... Rising tide will lift many boats; he's got nearly $1 Billion to bring to the table... many will follow. Only time will tell - and we are fundamentally overdue for a breakout. We had 3 of them from last Sept - to Dec. and that was into the face of rallys to $12-15 crude !?!?! - we're at $22+ & near $3 gas here ! how the hell can we not have at the very least a speculative rally at least to prior resistance of OSX 85-90 ? ... imho; we have to - and we will. The calendar is turning... 50-some days to Y2K. Anyone remember a Sept- Dec. period; given that it is peak demand season; where the OSX did not rally ? .... I rest my case. ...load thy boat. But, pick thine own exit (VBG).

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