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: XOsDaWAY2GO who wrote (24070)	6/14/1998 2:54:00 PM
From: upanddown	Read Replies (1) of 95453

I'am with you, Barbara. One would have thought we would have learned something from those dumbass "new high" contests in April. I notice the guys running those have all disappeared. We have had a 25% decline since early May and recovered about 10% of the decline on Friday. Crude declined again Friday and with a week until expiration and storage brimming in Cushing, it is really hard to see how crude can rise this week. The June contract collapsed last month in the final days before expiration and the storage situation appears to be even more acute this month. Friday might be a better entry point with the crude price factored into the stocks and the market looking forward to the OPEC meeting the following week. Maybe we should have a contest for the low in crude prices rather than an exercise in wishful thinking with people hyping their holdings. John

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