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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Ox who wrote (60242)2/14/2000 11:29:00 AM
From: Crimson Ghost  Read Replies (2) of 95453
 
Michael:

Obvioulsy SUSTAINED higher oil prices are good for the industry. But if people perceive a big runnup to be an unsustainable bubble, then the stocks ain't going to respond.

Oil equities will do much better with $22 crude if people think that is sustainble than at $30 oil if everybody is expecting a huge drop in the near future. Of course if crude comes down too far -- say $18 -- that will be bad for the stocks also.

BTW, the futures markets have crude down to the low 20s by next fall.
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