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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tomas who wrote (56612)12/10/1999 7:44:00 AM
From: Crimson Ghost  Read Replies (3) of 95453
 
The energy stocks have two big problems that must be resolved before we can see major and sustained moves to the upside.

First natural gas prices must rebound.

Second and far more important, the oil industry is not going to hike capex too much until they see where oil prices settle after OPEC hikes ouptut next spring. As long as people are concerned about another oil price collapse, they will remain cautious on capex. But if oil price settle in the low 20s next spring after OPEC hikes output as many here expect, then we will be off and running to new OSX peaks in relatively short order.
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