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: Platter who wrote (32649)	12/9/1998 12:41:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

Gee; I wonder if they (OPEC/Gulf States) will get the story right this time ? Classic... this is an opportunity here folks; we saw the ramp on the ''leak'' - then we saw the selloff on the ''denial.'' What I think will happen is one of two things; either OPEC & the major players didn't want their thunder stolen; or they do NOT want to publically announce the ''cuts'' - they will just ''do it''. The opportunities are to buy here today on a soft day; in anticipation of a ramp up on the news - if they announce cuts; or to wait to buy tomorrow - off of the continued ''denial'' of cuts... personally; the ''play'' is to buy today using some ''limit'' orders to try to catch intra-day lows; and one can either trade off of the good news tomorrow; or make a 2nd buy; averaging into another selloff if they ''deny'' the cuts... In my ''opinion'' which is no more valid than anyone elses; I ''know'' they will be cutting further. The political visits to Saudi & the Middle East of late tells me that there is major political/economic pressure on OPEC (Saudi in particular) NOT to dump oil. Their arms are being twisted; they have a common sense need to cut and in conjunction with the political pressure to cut - they WILL cut imho. This is a great entry point; I see a 3rd run up here. The great thing is that we are still at a prudent longterm buy & hold valuation range even if we don't get a move here. It all boils down to risk vs. reward; upside vs downside... I don't see many bettter odds out there than this ''play''.

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