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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thean who wrote (19056)4/15/1998 12:33:00 PM
From: waverider  Read Replies (1) of 95453
 
Friends...remember when we discussed the issue of stocks NOT going down anymore when bad news continues to come out?

From Thean last night:

>>Some bad news: API number out and they are no good.
bloomberg.com@@SSR6bQcAIJokRh*7/energy/nrg2/topn...
Top lines:
Crude oil stockpile rised higher than expected.
Distillates (heating oil and diesel) also rised more than expected.<<

AND
The price of oil is not being helpful.

And this morning GLM's estimates were cut.

So what happens? Not only are our stocks NOT going down anymore, but they are pulling off a good rally. PK, I will give my full agreement to your disagreement. With yesterday's close and today's activity, we should all have some pretty good smiles on our faces now. Ron, I've slipped over the edge and now I'm 140% invested. Gotta love that ESV.
All I'm waiting for now is to see those internet stocks and the surrounding mania fall apart. Where do you think all that mo-mo money is going to go, eh?

On another note, I contacted one of our frequent posters on the phone last night and had a wonderful conversation. Never talked to the chap before, but found our common experiences here provided an excellent base for further discussion on a lot of other issues.

SOOOO...start getting ready for our rig party. As odd as it may sound, some of us might just become pretty good friends.

Party on folks!
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