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: Jane4IceCream who wrote (67508)	6/2/2000 2:21:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

Nibbling on SII CAM BJS WFT GRP ESV FLC... Hope many didn't stay on the "max margin" train here of late with many of those fav's down 10-20 points.... the whipsaw to capital wouldn't be pretty. Cash was King after all - and still will continue to be. I'm not trying to be a smart ass, but folks - how many times have we moved 30 points virtually straight up in the OSX and not corrected substantially - especially into the face of an OPEC meeting, let along the added negative of a Fed Meeting ? Gotta start buying those names here - but, I am not chasing small moves down from here either. Now I will sit for OSX 105-108ish for my next buy in - as we "could" easily see that upon further NAZ strength as the mo-mo players take profits (E&P's wont be immune folks) & the fundies trim back prior to the OPEC meeting. Strangely; the OSX is actually fundamentally immune to the coming OPEC hike; as crude prices correcting back a bit to within the OPEC priceband will not impact cap ex spending, or dayrates one iota - but, once again - sometimes you have to trade the traders - not the stocks. GOM Jackup leveraged drillers on this retrace are a "Xmas in June/July" gift from the market Gods. Sitting l-a-r-g-e for $28/29ish ESV... Jim L - see your PM; couldn't resist some mo QCOM here... red in a sea of green - you'd better be right on this one (VBG) ~

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