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: ItsAllCyclical who wrote (57234)	12/21/1999 8:40:00 PM
From: BigBull	Read Replies (2) of 95453

JimL, This post by JoeDi on the RIG board puts the API numbers all in perspective. messages.yahoo.com I'll take a 5 million net draw every week anytime. IMO, if we had some giant draw this week Richardson would be on the wires again talking SPR. Boil them like the frog - slowly. The only thing I disagree with JoeDi on is that stocks will go much lower over the next two months, taking crode into the low 30 dollar range. We are now seeing shortages in paper pulp, aluminum, and nickel. This indicates an over all demand driven bullish commodities picture. The crude story ain't just and OPEC story anymore. Take a look at the gasoline numbers over the past month for a true indication of the demand picture in the US. BTW the OSX issued a macd buy signal today. Imo most of the drop we saw recently below the 200 dma was BHI and tax selling related and overdone. I think a test of osx 85, at least, is in order for the next two weeks.

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