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: Gameboy who wrote (28202)	8/23/1998 10:50:00 PM
From: The Ox	Read Replies (1) of 95453

If you think oil is going to quietly waft down to $8/barrel (or $8.50 if that's the current bear myth), perhaps you need a crystal ball. Slider got it right about the oil service sector... 1st off, I do need a crystal ball, we all do. Since there aren't any around that I know of, I will let the market do the talking. The way I hear the market, it's telling us that the oil glut won't dissipate in the next 5 weeks. Gameboy, I actually hope you are right about $17 oil. If the trend changes and starts heading north, I will be ready to dive in. When I buy, I will weight my decisions carefully and watch them like a hawk. Now as to Slider got it right..., which right are you writing about? The way I see it, Slider lately has admitted to his folly of buying in too early. Every time I posted that Slider should stop buying for a week and get a cheaper price the next, I was written off as a bear who just doesn't get it. Regardless of the Saudi's public statements, we still have a worldwide oil glut. We are starting to see signs that are encouraging. We have seen little that would lead me to expect a quick turn around. With all due respect, Michael

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