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: The Perfect Hedge who wrote (9882)	1/27/1998 8:24:00 PM
From: Tulvio Durand	Read Replies (1) of 95453

Glen, I recall the last time (about two weeks ago) when everyone on this thread spouted bearish sentiment the OSX promptly recovered 15% in in the next few days. Thus I'm beginning to see this thread's sentiment as a probably good contrarian indicator. The fundamentals are actually improved over the last time when OSX went down to 88, spot oil under $16, and no upside earnings surprises at that time. Now we have OSX at 95+ and making higher low and high for the day, March oil is $17+, quite a few drillers reported upside earnings surprises, Saddam is egging on the US and UN to cut off his oil production, and Battipaglia (whose opinion I respect) reiterates his bullish call on this sector. If one agrees that the fundamentals remain intact, why run away from this sector? Tulvio

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