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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: energyplay who wrote (4616)	10/3/2001 9:08:10 AM
From: jim_p	Read Replies (2) of 206223

"Jim P, when would you expect this drop in rig utilization ? December or out to February ?" It's hard to say when it's bottoms out. The perception in Houston for NG is still optimistic. Most are predicting a recovery in NG prices this spring. My experience would tell me the bottom falls out when the perception changes to no recovery in sight. I would speculate we will see this happen in the next 3-6 months. Oil markets are now in a major correction and we may see oil in the teens again. Still have a long way to go before we can predict a bottom or a recovery in oil. I think there is plenty of time to buy into oil service or oil stocks, but I still feel we will be near a bottom for stocks by year end. We may stay at or near the bottom until the market see a recovery 6-9 months down the road. Hard to predict a recovery when we haven't seen the collapse yet. Patience will be rewarded, Jim

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