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: Roebear who wrote (88716)	3/16/2001 10:15:10 AM
From: ItsAllCyclical	Read Replies (1) of 95453

I agree with BigBull that OPEC has probably screwed themselves here keeping prices too high for too long. There will be more cheating now than in the past. 1) There is probably more excess capacity than there was a year ago. 2) Mexico, Norway and Russia will try to make up for any lost OPEC production 3) It's easier to cheat when the price is going down from relatively high prices. Oil and gas fundamentals should remain pretty strong, but I think at best oil stocks can move sideways until the economic cloud is lifted. Natural gas will obviously remain stronger than oil, but I'm not sure the NG stocks can rally if crude breaks below 25. No position yet long or short, but shorting looks like easy money if the OSX closes below 119. OSX chart kind of looks like a broadening top. Bearish once it breaks support. Getting very close. 207.61.23.98 XOI near a short term breaking pt as well: 207.61.23.98

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