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: Olaf Koch who started this subject	9/8/2000 8:00:53 AM
From: Malcolm Winfield	Read Replies (2) of 95453

It's real easy to be bullish right now. I'm not sure about everyone else here, but July 25th is still fresh in my mind. You remember that date don't you? My personal investment journal has the SI bearish sentiment meter deep in the bear zone. OSX closed at 107. FLC was 18 3/4. PKD closed at 5. What was the basket selling for? I forget, but it was roughly 27 or 28? If all of this is strictly based on "It's the price of oil stupid" then I'm very concerned. If OPEC really opens the taps to knock the basket down to the mid twenties, there is no doubt in my mind that July 25th will come again. What will pull us out of that dive? If anything strong earnings although that didn't really help us last July now did it? The market gave a collective YAWN when OSX earnings rolled out. I guess this time it will be different. Maybe earnings will be above and beyond ALL expectations. The bullwinkle effect -- "This time for sure!" What is my point? I'm trying to see into the future and I want some help. How do others see this playing out? Are we destined for another July 25th? Malcolm

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