Strictly: Drilling and oil-field services Message Board

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

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To: Bazmataz who wrote (8256)	1/15/1998 2:34:00 PM
From: Thean	Read Replies (5) of 95453

Barry, me too think we are at a crossroad and people are really not sure which direction we are heading next. Sold the PTEN I bought yesterday for an unexpected 1 3/8 gain. This is how nervous I'm. I recommend setting stop for any gain you have to keep it. BW - what are you doing with your itchy fingers these days? Surfing? OPEC - they are a weak organization. Sure they hate to see crude below $17, $16, $15, but they are only paper tigers these days. Any unity accords is structured to be violated by many members to raise hard cash, whether it is $14, $13, $12. If OPEC is not selling, non-OPEC will sell. Crude is based in US dollars. To the Indonesians (an OPEC member), US $12 can probably buy as much as US $24 last month . So they will have to keep pumping. If energy price is going to pull us out of this slump, it will be the natural gas and not the crude, IMO. Heyward - since you are going out of the country. Reduce your risk. If you break even today on GLM, consider reducing your risk. Your Mexico trip already caused your heart to skip a few beat when you reached home. I had a 30% drop in my equity the last time I left the country for 1 month.

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