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: Douglas V. Fant who wrote (55204)	11/22/1999 1:25:00 PM
From: SliderOnTheBlack	Read Replies (4) of 95453

Rally based on crude price vs. actual fundamental news = sell into strength imho.. Amazing that the actual sector that receives the real and actual benefit from higher Oil prices; is flat; while the sector that can only fundamentally support higher prices if those "flat" reacting companies in the e&P Sector actually choose to spend more money are ramping... The OSX has become the play on rising Oil prices - as it should be to a degree; but when I see these types of moves based more upon the commodity and not the actual cap ex spending increases, higher earnings, new orders, higher backlogs, or dayrates; it remains one to sell into the strength imho. I will continue to sell all driller & service stocks step, by step into this upward move; and take those profits and rotate into the E&P's who are immediately receiving the benefit of higher prices. Who the hell wants to buy (chase) SII CAM WFT NE ESV here ?!?!? - holding is one thing; but I am amazed at the new money that sees a bargain at these levels; with these earnings, dayrates, orders etc fwiw ??? Give me more OEI, a little PXD - a tinch of NBL - and you can have all of my driller & service stocks each $ on up here...

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