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: S. maltophilia who wrote (56685)	12/10/1999 3:22:00 PM
From: ItsAllCyclical	Read Replies (4) of 95453

I guess we just can't win... Oil prices are now down over $1 and XOI, XNG, and the OSX are all reacting negatively. Guess it doesn't matter that these prices are historically high. Almost ready to just buy call options on yahoo...geez. We would have been better off if oil prices had risen $2-3 every six months over a 4 year period vs gaining $13 in one. Guess it's ALL perception. People think oil prices are coming down therefore so must oil stocks. Stupidity. Oil prices are down because the UN looks likely to agree to a 6-month extension for Iraq. To me this is good for oil prices. I'd rather see prices stay right at 25 for 6 months then see a huge oil spike. Taking a little air out of the price reduces the odds that the US will sell the SPR or that OPEC will cheat.

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