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: RGinPG who wrote (32315)	12/1/1998 10:13:00 AM
From: Crimson Ghost	Read Replies (3) of 95453

According to an article on Yahoo today, the spate of big oil mergers is bearish for OS because these merged companies will focus on the bigger fields. They will ignore the smaller fields where a lot of the OS demand originates. The sector is short-term oversold, so a bounce here would not be surprising. But I agree the OSX could go down another 20% if oil hits single-digits. On a brigher note, I am 99% certain this is the final shakeout. Once it is over the OSX will start a long-term bull. Not just another 50% rally that soon collapses. The fact that almost nobody here can conceive of a long-term bull in the OSX is very positive from a contrary opinion perspective.

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