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: The Ox who wrote (23667)	6/9/1998 3:23:00 AM
From: William Nelson	Read Replies (2) of 95453

Sounds like the "moment of maximum pessimism" may be at hand... I feel like there's got to be some reason why people are taking delivery at this price, even though storage is already overflowing...they must be thinking they're going to score big unloading it all later for more. Otherwise oil would already be at 12, not creeping that way. Is this a reasonable point of view? Hope this is right. I'm sick of trading--just want to hold and wait for the next oil service feeding frenzy. I would prefer not to lose 50% in the meantime though.

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