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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: profile_14 who wrote (34109)8/3/2004 11:19:07 PM
From: jim_p  Read Replies (2) of 206244
 
Looks like the OSX is near a top based on:

1. The number of posts on the BDBBR

2. The number of new posters showing up late to the party.

3. The number of oil and gas CEO's interviewed on CNBC, including micro-cap CEO's like Magnum Hunter.

4. The change in perception that oil is going higher and will stay higher for years to come. It's the change in perception that causes the oil companies to open up the coffers and bring on new flush production.

5. Mergers getting done at higher prices due to the change in perception.

High oil prices = slower economy
Slower economy = lower oil prices.

The economy can not expand with oil in excess of $40.00. We are headed for either recession or lower oil prices; neither is good for your pocket book.

As a wise poster once said over on Strictly Drilling, "The cure for high oil prices is high oil prices"

The time to buy OSX stocks is when oil prices are low. The time to sell OSX stocks is when prices are high and unsustainable; we are either there or very close.

The OSX has been unable to break out to new high highs despite all the good news.

stockcharts.com[h,a]daclyiay[pb20!b10!b50!b89!b40!b30!b200!f][vc60][iut!Ub4!Ua12,26,9!Lh14,3!Lc20!Ld20!Lj[$spx]!Lf]&pref=G

The smart money is selling into the good news and the mullets are buying based on the talking heads on CNBC.

JMHO,

Jim

PS: My guess is RRI beats the street tomorrow morning and raises guidance for the year.

Weshallsee???
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