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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: ItsAllCyclical who wrote (70954)8/15/2000 5:59:12 PM
From: BigBull  Read Replies (3) of 95453
 
Question is, how far down? 120 or 110? Catalysts?

Well, there will probably be a string of good news relating to services companies - particularly drillers - over the next 2 qtrs. Catalysts could be of the good old fashioned variety - CONTRACTS. Especially if Big Dog is right about the capex being back loaded into the last 2 qtrs. As long as folks don't start up with the $20 oil jawboning I think this sector should be ok.

Hey, I missed the last rally so I'm glad, on a personal basis, that some stocks may come down into my buy range.

I'll have to agree/disagree a bit with you on outlook for the services sector. $32 crude probably gave the stocks more strength than they "should" have had - short term. Imo about 6 - 7 point on the OSX. 120 should provide some decent support. The disagree part is about needing even higher crude prices for the index to continue to go up. any kind of extended trading range between $28 - $32 crude is OSX heaven. I mean 7nth level, brother. Sustained high crude prices will be just fine, for this sector. So yeah, if you've got some good profits, why the hell not book 'em. There are a few stock's I'll be looking to buy, that I missed on the last run up.
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