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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: 007 who wrote (23286)6/2/1998 5:47:00 PM
From: marc chatman  Read Replies (2) of 95453
 
<<we had a glimmer of hope>>

OK, please tell this pessimist what that is. It looked to me as though the sector was hanging on by its fingernails, and the OSX probably would have been negative without SLB. Maybe there was a little interest in FGII and GLBL.

As for the close, it may have been nothing more than some shorts covering so that they can pound it again tomorrow after they see where oil goes overnight. Actually, it's kind of neat to watch the shorts work these stocks. Let the buy orders hit at the open, maybe taking the stocks up a bit, then hit them hard at about 9:45 or 10. Maybe take some profits late in the morning, and hit the stocks again during lunchtime when trading is thin.
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