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

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To: jim_p who wrote (24935)	8/6/2003 5:58:03 PM
From: quehubo	Read Replies (2) of 206280

It is hard to compare OSX this time vs last time since one part of the market is dead, semi's, the GOM jackups have not even responded yet and most all activity increases have only been land based. I like looking at valuations for BJS WFT NBR PTEN for a feel for what the market is thinking. Presently valautions are at the low end of normal. Perhaps today has some similarities to Q4 2000. stockcharts.com[w,a]waclyiay[d19990806,20030806][pb50!b200!b10!i!f][vc60][iut!Lh14,3!La5,17,9!Ll5!Lc5]&pref=G Presently the market cannot believe that Iraq is not flooding the markets with oil, that OPEC is not cheating a these prices with the tightest quota compliance that I can recall and the market is uncertain WTF is going on with NG supply. E&P production data for Q2 is taking away part of the uncertainty and present NG prices are taking away some of the concerns about demand. I am loaded and into margin with NBR PTEN and al my favs. Watch out for utilities they are going to be bleeding from this cold Summer. Cold Winter followed by a cold Summer leads to what this year?

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