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: Crimson Ghost who wrote (56882)	12/14/1999 11:12:00 PM
From: SliderOnTheBlack	Read Replies (3) of 95453

GeorgeCole; lets see if the market ignores SLB's coming bad news ? These API's were "hammers" - but, those hammers were and will continue to be a given. We HAVE crossed the "point of no return" here - and OPEC is caught in a catch -22. Ease, or raise production and get $16-18 crude immediately; maintain cuts - bring the world to its knees, reap $30 crude and then bring back the trial balloon that they floated on Price Bands - allowing the futures traders a "reason" to softly led crude land in the $21-23 range that pleases everyone. SLB is having analysts cut their earnings estimates and is "pre-announcing" they won't make the number, but will merely be flat qtr, over qtr. First HAL, then BHI, now SLB... George Cole; as you pointed out - the OSX will REALLY have turned the corner when it ignores bad news. Well George; old SLB has some bad news & those API storage #'s are the "call" in this poker game. Lets see what the Street does. Run scared because of SLB's news - or look to the "numbers & the fundamentals" of the API storage #'s which virtually guarantee the sustainability of crude prices here. Add to that all the Cap Ex spending increases allready announced in this still "wall of sustainability worry" - and one has to buy into what SLB may provide as the FINAL blow off "if" seen. Get your wallets out boys & saddle up...

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