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: The Ox who wrote (30887)	10/19/1998 3:19:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

Michael.... Henny Youngman - NOT. You can only use a line once <VBG> !...small caps & laggards up with crude down strong... For the OSX to be marginally down on a day with Crude down .60 Cents and on a downward turn in general; substantiates a bottom - ''valuation-wise.'' I don't think ANYONE expects RON @ $15 FGII @ $6 etc.... Without question; we are simply bouncing to a fair value in this enviroment - where most stocks are. The laggards are still bouncing 15-20% to rise to those levels. Unquestionably, improved earnings and a rise in Crude prices will be required to take us higher. But, there were some 20-30-50% ''pops'' here again; even in a less than perfect enviroment. For laggards like GMRK (a damn Boat stock !) HOFF, HLX EGEO and a few laggards are up strongly here - for GMRK to be up 20% on a day that Oil is down 60 cents - says it all. Sure who did not expect RON to blowoff.... gee; how hard is it to trade RON from low/mid $20's to $30-35 ? I'll 2nd the motion of keeping this voilatility. It is NOT the time to turn on the margin machine or to buy accross the board - but a bottom ''RANGE" - certainly. We are in a well defined trading range. This is a great trading enviroment if that is ones style; or just buy on the major 1-2 day blowoffs and hold.... The Fundies are in & out; not wanting to miss the train, but not wanting to sit in dead money, nor to fall lower. They are out when the wind changes directions... But, for the OSX to be generally holding the bulk of its gains with Crude down strongly is a positive sign. *** I still say watch for the ''double bottom'' to be established in Crude Oil ! PS - NUKE Venezeula <VBG>....

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