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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Flan who wrote (4392)12/3/1997 5:39:00 PM
From: Lucretius  Read Replies (2) of 95453
 
Nice day. NE closed strongly back above the 50-day moving average. Nice volume and push at the end of the day. Looks like I'm holding onto those calls a little longer. Anybody jump in? Thean, what's your new S-T target for Thurs in NE?

Flan, I think that the Increase in Iraq's output is already priced into oil. We would not be getting this kind of push in the services unless there was some decoupling from Iraqi oil concerns.

There's a good chance we could simply bounce back w/out the backing and filling that many here seem to expect as a given. Many here seem to be overly eager to sell calls or sell their stock in the hopes of timing this backing and filling w/ precision accuracy. Don't be overly eager to sell calls, they may come back to haunt you and make the last month's grief all for nothing because suddenly you thought you could call the mkt whereas you didn't before? I sure didn't anticipate these stocks going straight down as they did. Who's to say they now don't go straight back up over the same time period? Finally, a reward for those who held strong dueing the latest adversity (but hey, we knew this day was coming) Good Luck!

As for the shorts--- HAAA!!!! Start buying my stock before you lose your a??!!!!!

-Lucretius
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