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 (65251)	4/25/2000 5:52:00 PM
From: ItsAllCyclical	Read Replies (2) of 95453

>> I am still positive that the bottom is in the NASDQ and that we will see NASDAQ 5000 again by year end. << Don't get too excited. There are many who are underwater who will sell if we snap back too fast. I think the bottom might be in, but just like the OSX we might retest that bottom more than twice. By many measures the economy is still growing too fast and the large cap bellweathers in tech (other than MSFT) have not come down that much. This tech rally is still pretty narrow and much of it smells of bargain hunting and short covering. There will be more retests and down days. Many issues are also coming out of lockups that'll provide downward pressure. That said I've been chasing techs too. About 50% of my portfolio is in tech. I sold some today however and also wrote some covered calls. It'll take some discipline, but I'm buying into every tech dip from here on out and selling a little into each rally. I'm keeping some core positions no matter what happens though. In terms of oil issues I'm not sure what to think short term. I can see it going so many ways. I was more bullish until I saw the API's and Slider's comments. I actually bought a few back today. KEG and TESOF along with some SFS July calls. I think I'll probably be more cautious going forward, but if you're in the laggards I don't see much downside. The biggest downside is in the OSX momentum leaders such as SLB, SII, WFT, RIG, etc. HOFF back to 5? KEG back to 7 or 6? Maybe, but it doesn't seem too likely imho. Anyone notice that the OSX/E&P's have had a habit of running in-between earnings periods the last couple quarters? We're almost through earnings. Maybe 2-3 more weeks. I'm a little less concerned than Slider about the build over 300 in crude because the other "grades" are still in very short supply. Also OPEC can always talk "dirty" to the market if they take crude below $21 (or whatever price they have in mind). I'm not really inclined to margin anything here heavy unless it's short term.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next