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 (64651)	4/14/2000 5:54:00 PM
From: ItsAllCyclical	Read Replies (2) of 95453

Oil stocks that bucked the trend today... Closed up: P, RDC, IO, TOS, GEL (Last 2 are refiners) Closed flat: PXD, BEXP, SEI (Still noteworthy). For what it's worth one tech I bought today actually closed up - PSIX (PSI-Net). Regarding the CPI numbers they should look better going forward. 1) The stock market correction will kill the "wealth effect" - not to mention what it'll do to sentiment. 2) Raising rates has a lagging effect. The previous rate hikes should start to show up in the numbers. 3) Oil prices have come down 30%+ which will help the numbers. Also oil prices have a lagging effect. I would think $30 oil would have slowed down the economy slightly as well. I think this is still a buying op. It may take a while to show it though. I'm excited about this tech correction. Yahoo is too pricey for me, but Excite (ATHM) ain't a bad substitute at $21. By some meassure it's still pricey, but they're not burning cash and it's almost back to it's IPO price. I'm game.

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