Big Dog's Boom Boom Room Message Board

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

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To: Bearcatbob who wrote (135664)	6/21/2010 8:16:53 AM
From: ChanceIs	Read Replies (1) of 206179

>>>The land based drillers and investment in the commodity itself should do well.<<< I think that that is the ticket for the next six months - credit/sovereign/Euro implosion notwithstanding. We had the great drilling bubble of '07ish. That should be worked through. Manufacturing is coming back. More importantly, (as the "rump" of Simmons, Inc indicated) conventional gas is in severe decline. I don't have good data yet on nonconventional depletion. Regardless, it is my understanding that those plays require more and frequent drilling to run in place. We still have the specter of small firms not getting loans. I don't know how pervasive that problem is or significant for the service companies. The last time I checked, PTEN had no debt - which has been their modus operandi time out of memory. I did take long positions in TDW and HOS figuring a technical bounce, oversold, and offshore coming back within the moratorium's end in six months. Remember that moratorium is on drilling not production and the cacophony against the ban appears to be growing louder than the horns at the World Cup. If you can't wait six months for a double, well then........

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