Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: waverider who wrote (22134)	5/15/1998 6:41:00 PM
From: Broken_Clock	Read Replies (1) of 95453

Now back to the drillers.... Oil having busted down thru double support in one day is very bearish near term. Selling on volume is becoming more prevalent in the last couple of days. Check out MDCO today! By experience, I would advise buying at long term support. i.e. CDG is 46, 40 and 32. If oil does a big reversal next week then we not see those prices. In the past OPEC took a couple of weeks to get things together. It only takes 2-3 days for these puppies to drop. NE went from 30+ to 23 in 7 days. Good news is that they can go up just as fast! I don't see any good news on the horizon until OPEC meets. Anybody else care to make a call? OT India said today they would use nuclear weapons for "self defense". Over 200 reported dead in Jakarta riots. POG thread has excellent article on G-* meeting(un-official topic is unease over "bubble" US stock market...fear that 20% correction could trigger global recession.(These are the guys in power folks, not me saying this stuff).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next