SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: diana g who wrote (32030)11/23/1998 8:44:00 AM
From: marc chatman  Read Replies (1) of 95453
 
Friday's release about Venezuela breaking its commitment is probably the worst piece of fundamental news to hit the oil market in some time. Expectations for the OPEC meeting were at least for an extension of production cuts, with a very outside chance of additional cuts. Without Venezuela's agreement, all bets are off.

Having said that, fundamentals don't matter in this market. There is a ton of money sitting in mutual funds, with more to come from Christmas and year-end bonuses. I feel these stocks are going up because that's the only direction this market knows.

Caveat: it may not be a good idea to be holding too many shares if/when these companies start to pre-announce.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News