Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: SliderOnTheBlack who wrote (64770)	4/17/2000 1:43:00 PM
From: BigBull	Read Replies (2) of 95453

Slider, back in the real world, far from the emotion ruled stock market. Real contracts, for real money, between real companies are starting to be signed. Witness HAL: quote.bloomberg.com I still remain incredibly bullish on the patch. There is a strong possibility that crude may finally be trying to set in a bottom. Every day that the price holds in here strengthens that possibility. Not surprisingly the short term technicals are close to flashing a buy signal on May crude. I expect that the seasonal build period is finally upon us and do not expect US crude stocks to start declining until May sometime. If crude prices and the OSX can hold through this period I will count that heavily in favor of a run to 140 OSX. If the OSX continues to hold 100 here I'll be very impressed, if not I think OSX 95 - 96 should provide solid support. Many OSX stocks are approaching oversold levels on a short term technical basis. So for me it a day to day thing. I don't think I'm being too coy with my money here, it's just that too many OS stocks are in a kind of technical no mans land. KEG is a classic example, It's hanging somewhere between it's 50 to 200 dma. Also there are plenty of individual stocks that still have some downside work. IMO, I'd rather start buying them as they are heading up again, rather then buying into a decline. But hey, It's just a question of ones own personal style and discipline. Yes my approach is a kind of nervous - show me - one. But in markets like this it works well for me. I do not seek EXACT bottoms, just ones with more confirmation. It's a subtle distinction and requires some skill and alacrity to execute but there are enough stocks out there in this conditon that will allow for upside mistakes in one or two. Now of course if I see SESI in the low 7's again I may not be able to resist, since that is the kind of stock that can turn in a dime. But that only comes from watching a sector for over 6 months as you so sagely recommend.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next