Slider, speaking of Sadamm/Iraq, the US has troops on the way to Kuwait as I type, under the guise of military maneuvers. I have heard more troops are readying for a trip to the ME. Interesting, no?
In other news, according to Thompson's I-Watch:
DO -- Oil & Gas-Drill -- Basic Materials
23-Aug-00 11:53:07 The sell-side is out again this morning, posting
bullish research notes on the oil drillers. ABN Amro noted that the
API weekly inventory report indicated a sharp drop in US oil
inventories, which has pushed crude oil prices higher. The October
crude oil contract hit $32.80 earlier in the session. Goldman Sachs
also noted positive preliminary results from the Western Gulf lease
sales, which is indicative of oil company's "appetite" for
potential explorations and benefits oilfield technology companies.
Diamond Offshore has hit a new 52-week high of $46 1/4 today,
trading up $1 13/16. Growth investors are backing today's rise,
pushing volume to just over 1 million shares, which is in-line with
recent levels. The I-Watch pre-trade chart indicates continued
institutional support, with buy message volume outpacing sell
message volume for much of the session. Brokers have posted super
buy messages up to $45 1/2, backing the gains, although the new
annual high has lured a few profit takers to the table. DO's post-
trade data shows solid Smart Money contribution in the session,
with block trades contributing to about half of the total volume.
Though the stock may face some consolidation in future sessions, the
strong institutional support today suggests DO can hold onto its
recent gains. |
