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: Dwight E. Karlsen who wrote (12498)	2/22/1998 11:48:00 PM
From: Thean	of 95453

Early crude price indication - NY crude April future DOWN 63 cent to $15.61. See article at Bloomberg. Need a password. Try for free. bloomberg.com Asia market is mixed. Of course we still need to see the US response. But the oil future traders are beginning to focus on oversupply again, with Iraqi oil-for-food deal increased to 5.2 billion barrels. Tomorrow should be interesting. All you so-called long term people, if you buy tomorrow and it starts to tank and stay low for another six months, have you thought about that consequence? Patience can mean waiting patiently for short term correction to work its work out or it can also mean don't pull your trigger when you can't see through the cloud yet. Why can't people buy when the cloud is clear. Who cares if it's 20% higher by then, if this thing is going up, it's not stopping until it doubles. This sector is full of dark cloud. There is a realistic shot of having your money stuck for 6 months by investing in this sector because of low crude price. Think this through first. But trading would be a different story.

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