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: BigBull who wrote (70895)	8/14/2000 8:35:15 PM
From: ItsAllCyclical	Read Replies (4) of 95453

OSX breakout or breakdown... XOI back above it's 50 and 200 dma's. XNG hits new 52 week high. OSX closes at peak. Unlike other OSX rallies of late, this time the XOI is with us. 207.61.23.98 Gotta believe we make new highs in the OSX before retreating. However, even if we don't break it the pullback in the laggards should be minimal. I would think the OSX will perform well tomorrow morning and then have a little profit taking before the API ending flat or slightly up. If we get another week of surprise draws then I think we go to OSX 140+ on this run. If the "extra" crude on it's way never shows up during the next couple weeks then we can speculate that SA is near capacity too. Now that would be explosive. I have not seen any decent explanation for the last two week of draws. How accurate are the extra capacity figures on SA and Kuwait? That's really the only thing keeping this market from going to $40 imho. On the flip side we may get a few weeks of "bad" API/DOE's taking us back to OSX 110/115 and oil back to 26-27 (if the oil was out there, but merely delayed the last two weeks). If we do see OSX 110/115 again it won't last long. Using 1/2 my margin here because I'm thinking breakout on this run, but I will trim in a heartbeat if the API/DOE confirm delayed oil transports.

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