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: SJS who wrote (12562)	2/23/1998 11:50:00 AM
From: Thean	Read Replies (5) of 95453

Some of you guys are driving me nut. The drillers are not going up anytime soon and you guys are cheering it as if today is the last day to buy the drillers before it rockets up 100%. READ MY LIPS - IT'S AIN'T GOING TO HAPPEN ANYTIME SOON! The oil fundamentals have shifted - to the negative side ever since we have the oversupply issue. Oil price does not stay so low for no reason. I'm sure it will go up one day but are you willing to wait six months? TA is not very useful at this point - yes you heard it here from me the driller TA guy. One has to recognize periods within which TA is very predictive and periods when it is less. We are in a period where it is LESS predictive. The leading indicator is crude price - yes and not natural gas price either. There are better places to go long other than the drillers. Yes, you heard that right. Unless you are a trader, your money may be stuck for a long time. And all this while, stocks at other companies soar. Why not come back when you have made some easier dough some place else first? Wake up people, be nimble. Think in terms of risk-reward. Don't think in terms of fundamentals or TA right now.

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