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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (19340)2/28/2003 10:34:19 PM
From: Tomas  Read Replies (1) of 206310
 
Ironically, if oil prices retreated and levelled off at, say, $25 a barrel, oil stocks could rise further because investors would feel that the recent volatility was over and would regain some confidence in valuations for the stocks.

Gord Currie, an analyst at Canaccord Capital Corp. in Calgary
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The Globe & Mail on oil stocks:
It's one hot sector, and definitely people are using it as a source of cash
when they are facing redemptions from other areas, one analyst said.

Others merely see a reluctance to become too excited about the recent gains.
As one industry watcher said, "investors are scared to be bullish."
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Gas: Over the next five weeks, the average 5-year supply decline is 69 Bcf.
Inventories may decline as much as 200 Bcf this week, analysts said.

"It's really an amazing turnaround from worrying late last summer where we would
put the gas and now not having enough," said John Kilduff at Fimat USA.
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