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: Crimson Ghost who wrote (92441)	7/17/2001 6:44:22 PM
From: patron_anejo_por_favor	Read Replies (2) of 95453

A few more big injections on the AGA and a few more big inventory numbers, and you'll get your consensus. Not saying we won't get a tradeable bounce in the OSX before then, but that is one DANGEROUS sector to catch falling knives in...the real problem is worldwide energy demand weakness due to the slowdown. The Chinese don't have anywhere to send refined product, and the Arabs don't have anywhere to send crude. I certainly hope Shrub will use the opportunity he's being given to refill the SPR while it's cheap (because of course it won't stay that way). BTW, since the OSX is the perfect example of what a cyclical downturn of an equity sector looks like, it's a good model for what the homebuilders will do once it's perceived that "the top is in"...

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