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: marc chatman who wrote (27332)	8/7/1998 4:19:00 PM
From: The Ox	Read Replies (3) of 95453

<< If the bombings were the motivating force, wouldn't you expect to see a similar, if not more powerful, spike in the oil futures? I don't think the bombings have anything to do with the osx today. >> Good question and one that I have been considering all day. Crude did try to rally this morning (up about 15 cents at one point). I haven't followed the crude futures very closely. It will be interesting to see the comments from futures traders on today's action. We all agree that the sector was oversold (to put it mildly). We needed a catalyst and it is my opinion that the bombings were what started today's rally. I could easily be wrong. It may have been that enough people feel that these companies have too much potential and stepped up to the plate. I have to admit I nibbled recently :) Michael

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