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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: stan_hughes who wrote (3889)8/29/2001 5:26:22 PM
From: anyer  Read Replies (2) of 206085
 
Stan,

Look at weekly OSX and compare to weekly XOI. XOI with little overhead supply and if it breaks 561 convincingly it should scream. This week is critical,as it closed poorly today and once again was turned back.

OSX is saying it is much cheaper to drill on the floor of NYSE or AMEX. We could get a bounce in OSX, but I would think E&P have to do much better before OSX goes anywhere significant.

Something going on with NFX as it gave a buy signal today.
I would not be surprised to see today as the bottom in NG as it reversed the open and fuel switching would seem a no brainer here. Demand should come back even before winter.The key is definitely OPEC resolve and I don't want to bet against them.

The analysts have been calling for 18$ oil for over a year. If OPEC can keep the price up when demand is down, what happens when economy turns up? This has got to be why insider buying in energy is going on now.

You got to hand it to OPEC; they don't want to give away their future. Contrast that with some CEOs of domestic E&P who are determined to drill holes in the bottom of their companies stocks so they can give away their product.

Anyone know an E&P company that is counter cyclical? That is one who only drills when prices are low, then caps the wells and only opens them to sell when prices go back while refraining from drilling when prices are relatively high.
It would have to have low debt,good cash flow and a smart CEO. Maybe an Arab sheik is candidate for the CEO job.

Regards,

Anyer
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