Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Art Bechhoefer who wrote (92344)	7/16/2001 3:38:11 PM
From: Frank Pembleton	Read Replies (1) of 95453

Art, you'd have to define what amount of time a long term trend is, myself I invest in an intermediate time frame. I expect prices to be soft for at least 2-3 years, or until economic issues are settled here and abroad. a more economical way to extract oil from tar sands. I believe they are mining the stuff at $12 per barrel, it is now profitable and they are expanding production. I concur with you on the Long Term, but that doesn't stop the stock price of Syncrude or Suncor to fall, no matter what the reserves are. We'll enjoy more news with our upcoming weekly AGA/API scare, we'll have to see how bad the news is, and how the O&G group reacts to it. Will we see a bottom in the next couple of days? I doubt it... Will I try and catch the bounce? Not really. :) Please keep in mind oil has only dropped to $26 and look at the correction, what if it goes to $16? The possibility is there, that's what the market is telling us. Regards Frank P.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next