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: Alias Shrugged who wrote (8392)	1/16/1998 3:02:00 PM
From: Jack Be Quick	Read Replies (1) of 95453

Mike, >>Go back and read how people have been blasted for suggesting that oil prices impact these stocks. Are we now all agreed that oil prices do indeed move these stocks despite current great fundamentals???<< I have seen this become a contentious issue in several forums. I think the problem stems from there really being two separate and distinct questions that are often confused when we respond to/past one another. The two questions are (1) DO oil prices impact the stock prices, and to what extent; and (2) SHOULD oil price impact the stock prices, and to what extent. So you get exchanges that go something like: - "Crude prices are headed down, we're goiing to tank. " -"That's totally stupid, they aint gonna stop drilling" -"You're just bullheaded, listen to what the market is saying." etc. IMO, the answer to question #1 is YES, OFTEN A LOT. The answer to #2 is NOT NECESSARILY, AND NOT AT THIS LEVEL AT THIS TIME. So, what is happening (stock prices getting clobbered) probably should not be happening. Such is life. It will pass. Regards, John

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