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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (15699)7/13/2002 6:48:51 PM
From: nspolar  Read Replies (2) of 36161
 
iso, one reason I can't get too high on OSX and to a lesser extent XNG is this thing right here:

finance.yahoo.com^XOI&d=c&k=c1&a=v&p=s&t=5y&l=on&z=m&q=l

finance.yahoo.com^XOI&d=c&k=c1&a=v&p=s&t=my&l=on&z=m&q=l

I don't think the oil industry is healthy, and is just hanging on. A brutal bear market will not spare it. If world economies contract even a minute amount from here the over supply of black stuff is going to result in a huge shake-out. Call me an insider.

After that, if it happens, pickings will be quite juicy.

I've thought about shorting some XOI stuff, but just haven't had the cajones.

Preserve capital for the days ahead.

IMHO.
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