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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (28338)8/26/1998 7:54:00 AM
From: Dragon 1  Read Replies (1) of 95453
 
Slider, in your post enumerating events that could move the oil market you forgot to mention one: war. Don't try to deny the fact that the fundamentals have not changed in the oil d/s sector in the short term since crude could not have been this low if otherwise. Remember, we are not even talking about oil majors and look what had happened to them since then. Don't try to blame the futures traders either because I think they know more than you or I do. What you have been saying sounds music to ears of longs here (which also poses detriment to unsavvy investors), but take a look at the fundamentals of this thread you will get a very clear picture. Where are all the bulls and longs of this patch in Jan and Feb when it suffered it beginning hit? Go back to the history of the thread and you will find that they have by now become ten inches shorter. And you know what? They were already selling short while still touting. IMO, the only thing that can reverse the negative changes in the fundamentals is the drastically changing world politics centering on the Middle East. Don't preach morals here; the market doesn't give a shit. Nobody likes war, but the market doesn't take prisoners either. The ultimate event of change hinges on world politics and the tool it emloys to reach where it wants to be is war. Before that happens, don't stop singing.

Regards,

XQ
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