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 (55141)	11/20/1999 10:36:00 PM
From: Gary Burton	Read Replies (2) of 95453

Slider--actually, I'm kind of thinking that the bottom in NG is very close at hand and that NG will then do a C wave new high above 3.30ish and therefore maybe the place to be now is actually in the gas levered names. I heard Coxe's comments but I think he is too late on gas-it is already down. --also--if the Middle East etc is still pumping on Jan 1, maybe down goes oil since the y2k scare turned out to be bogus?-------Big picture--2 worries about oil as I see it--1)no y2k screwup on jan1? and 2)sooner or later OPEC will increase production so traders will resist goosing the shares up to new highs in the near term on 'yesterday's news' of a spike in oil prices---only when oil ultimately revisits say 20ish when things settle down will the next runup in oil stocks get moving for real (since the opec hike is then out of the way and traders will see that the world didn't end for oil investors)----in contrast to oil, NG has already been blasted so there's only one way to go and that's up?-----geez I thought all that up and I only used an elliott reference once in this paragraph?

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