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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

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To: pater tenebrarum who wrote (41637)	2/28/2000 12:39:00 AM
From: Michael Watkins	Read Replies (1) of 99985

Heinz, yes, the oil is particularly interesting to me as oil runs through my extended family and is always discussed (my father in law was a geologist working for Texaco, and all the kids roamed the world following dad to some rather interesting places before landing in Calgary). I do some consulting work (IT, what else) for a big oil exploration co and had the pleasure of speaking with some of their folks in exploration some time ago (over a year now) - their take on supply then was that it was overstated and price would eventually make itself known. I would gather that this particular company doesn't have a hedging problem then, things unfolded much as they planned. Yet their stock is not enjoying the benefits of the tremendous improvements in cashflow, and this company is a cashflow generation leader and highly profitable to boot. It is merely just the evacuation of capital to tech? Perhaps, perhaps there's something worse afoot.

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