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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (56088)12/5/1999 3:05:00 PM
From: Big Dog  Read Replies (1) of 95453
 
Slide-o-Rama, I beg to refine. In casting off the battle cry 'It's The Oil Price Stupid' you are mixing oil and water.

It will ALWAYS be the price of oil in the longer run. In ODB today I write that the stock market serves as a filter to keep market fundamentals from directly and instantly impacting stock prices.

Today, the filter is skewed in a time warp. Stock prices WILL catch up with the price of oil if the price of oil is 'sustained' - as I think it will be.

Short term, you are right. Stock prices are not joined at the lip with oil prices. The mantra never said that was the case. For a short time, and on the initial oil price rise, they will move together. But now there is not such a direct correlation.

But is is ALWAYS the price of oil that will be an overwhleming factor that determines the health of the oil service industry.

I agree with you that current conditions are a good opportunity for us dumb little guys to, as written in last week's ODB, 'open up a can of whoop ass' on the big boys and beat them to the party.

I'll leave it to you to tell us what factors move the sector in the short term these days. In the long run though...It's The Price of Oil Stupid!

big
atoffshore.com
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