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: Wowzer who wrote (64968)	4/19/2000 2:00:00 PM
From: ItsAllCyclical	Read Replies (2) of 95453

Rory, E&P earnings. It has nothing to do with earnings and everything to do with Tech and the overall market. People are still spooked. We need to see tech consolidate a little and then hold the bulk of the recent gains. At that point people will feel safe to venture back into the market. I would guess the market would broaden at that point. We are not seeing a selloff (flat yes) in E&P's like previous quarters when they announce so I don't think it's the same. Also gas prices have not been this high before especially this time of year. Lastly OPEC has done a great job so far with their price band. All these factors tell me it's different this time with E&P's. PXD traded down to $9 in the huge blood bath last week, FST 10, SFS 8. I'd call that pretty safe. With techs flat and oil prices up I'm kind of surprised the OSX, XNG and XOI are not moving. JMHO.

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