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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Grommit who wrote (25967)7/19/1998 11:02:00 AM
From: Harold S.  Read Replies (3) of 95453
 
Let's not forget that when the market prices a stock it looks months down the road. The current prices on a lot of these stocks, I believe, have already priced in todays rig utilization rates, day rates, and oil prices. What will count very much shortly is what the market sees happening this fall. If the market sees an ugly winter coming with a pick up in Asia and even a 75% compliance rate on the OPEC cuts...we may see a sustained run up in oil back to the 16-17 area by October....regardless of what today's rates are.
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