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: pz who wrote (14190)	3/9/1998 2:11:00 PM
From: Thean	Read Replies (3) of 95453

pz, crude lost 62 cents at 2pm. I really like the scenario where oil falls quickly and drastically in a few short days because that will get us to or below the supports for most drillers quickly followed by a strong technical rebound just in time for the GOM leasesales. If the leasesale continues to be strong, a cap will be placed on the bottom. Otherwise, the freefall will continue as per oil price. By the way, the oil traders do not think the pain threshold has been reached yet for the producers. Ron - What do you charts say about the reversal?

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