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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thean who wrote (3408)11/20/1997 9:14:00 PM
From: JGreg  Read Replies (3) of 95453
 
Do others find it interesting as I do that we're not talking fundamentals anymore? Read the last 200 posts and the focus of discussion has completely changed. We used to discuss rigs coming on line, who's moving from shallow to deep, who's building drill ships, who's got debt and who doesn't, are day rates at replacement costs, etc. Now the task is analyzing all the nuances of the market and the reasoning of the fund managers. The fundamentals are no longer in question. Everbody knows where every rig is and what it's bringing in. Now the art of TA is the most important knowledge. It's amazing that a sector that has so much more money to earn is experiencing so much volatility. I know it's only a few weeks until fundamentals will again become important. Until then, I am learning much every day from the posts about TA and I thank all who share their skills and advice with us. It's a good thread with excellent contributions.
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