Anyone following UTI Energy Corp.? Message Board

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Gold/Mining/Energy : Anyone following UTI Energy Corp.?

UTI 27.83

-0.7%

Jan 30 9:30 AM EST

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To: Captain James T. Kirk who wrote (844)	6/27/1998 7:55:00 PM
From: Stephen Adnan	Read Replies (1) of 1305

A mixed response from a former poster and now lurker. 1. UTI (oil sector in general) looks fundamentally and technically (if this is a short term double bottom) a buy. Patience and buying in a little per month is the idea until "oil takes off" again and UTI buy recs at $23-$25 are prolific. Buying $X,000 worth of shares regularly every month at these prices looks like any excellent long-term investment until the next boom comes in. 2. Even with my feelings as listed in #1 above, the big $$$ investors which I know (and I am not saying AT ALL that I am connected or in the know) indicate the reason that investors aren't falling over themselves for oil / oil service right now is simply because they see OPEC as very weak right now and they feel that an OPEC "agreement" is meaningless. So many Oil rich nations regularly violate said agreements that investors have a "I'll believe it when I see it" opinion regarding oil prices rising. In short, OPEC simply is not what it used to be and just like the unions, probably will never be the dominant force it was before. Every oil producing nation wants money, they are competing against one another and driving prices down and don't give a rat's ass about OPEC. Notwithstanding #2, I will be a nibbler come Monday and really don't hope for any pyrotechnics in the oil sector in the next 6-8 months. This is the time to buy QUALITY depressed oils stocks. Just one opinion. As always, good luck to all Stephen

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