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: Nathan who wrote (57124)	12/17/1999 4:47:00 PM
From: ItsAllCyclical	Read Replies (1) of 95453

PXD/E&P's/OSX comments PXD is typically a low volume E&P. As such it often moves in surges, but yes that was some interesting late day volume. There have been rumors on yahoo that NBL is interested in PXD, but I attribute the buying to PXD being a screaming buy along with the rest of the sector regardless of a buyout. Pretty soon OEI, XTO and VPI will make similar moves. Take a look at OEI's chart. Nice steady progression of higher bottoms of late. It's just aching to break out. XTO is clearly the bargin now that NBL, EOG, HSE are moving. They are all pretty equal, but XTO is lagging the most followed by closely by NBL. Hoping we get one more EOG selloff. As for other E&P's not moving has anyone noticed HSE the last two days? Bought Feb 12.5 calls yesterday and have move than doubled my money with plenty left on the upside. I was encouraged by APA's reversal late in the day so I bought more XTO and VPI here. Oil prices also made a nice reversal while the DOW and tech's sold off near the close. Very encouraging. The OSX has now bottomed 4 times. Let me repeat that...The OSX has now bottomed 4 times. What's the significance? It bottomed 4 times when it was testing the lows back in march around the 48 level. I think the bottom is in folks. We're also seeing many OSX holding their ground in spite of earning's warnings. Still favoring E&P's because they'll blow away estimates vs many OSX stocks will miss, but I will start to add more OSX stocks into my porfolio again. Lastly, natural gas prices look like they've busted out past the 2.60 neckline. More cold weather next week combined with more API/DOE #'s pretty much guarantees another run to 2.80 since there is little resistance above 2.60. Beaten down NG E&P's look great here.

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