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: SargeK who wrote (56041)	12/4/1999 2:07:00 PM
From: Crimson Ghost	Read Replies (1) of 95453

Sarge: Glad that the DOE is bullish on crude, but their forecasting record leaves a lot to be desired. A year ago they were bearish along with everybody else. Some of the caution on crude prices and oil company capex probably reflects the belief that Y2K related stockpiling is responsible for much of the present strength in crude. The key here is to watch the divergence between OSX and crude. When crude consistently outperforms the OSX -- as has been the case recently -- that is generally bearish for both. The safest time to invest in commodity related equities is when both have been beaten down and the equities start strongly outperforming the commodity.

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