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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Chuzzlewit who wrote (24496)6/22/1998 7:10:00 PM
From: Jess Beltz  Read Replies (1) of 95453
 
Chuzzlewit, I see. So, the price of oil and the drillers are reacting to the same thing, estimates of supply, and their prices move in the same direction, but for subtly different reasons:

The price of a oil falls in response to an estimates of an increase in current supply, while

The price of the drillers falls in anticipation of an extended environment of excess supply which will cause a decline in their business as the "expected" future unfolds.

jess.
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