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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tulvio Durand who wrote (23507)6/5/1998 5:04:00 PM
From: marc chatman  Read Replies (1) of 95453
 
And don't forget (you probably haven't) that in a couple of weeks, when buyers realize they will have to take delivery on the July contracts, and there is nowhere to put the stuff, we should see another nosedive in the futures contract. I'm thinking that if we get any kind of rally next week, it may be time to go short.

To me, the big surprise is that the XOI was up in a big way while the OSX (minus SLB) treaded water. Crude finished down a nickel.
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