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: Bradpalm1 who wrote (33223)	12/20/1998 5:16:00 PM
From: Platter	Read Replies (2) of 95453

Big bull...I think you are right...Thursday's meeting was only arranged after price had hit all time lows....They got complacent when prices rose on Wednesday...Now they have lost all those gains...I see Mexico, on Friday evening, realised that they screwed up on Thursday by not announcing additional cuts...If oil prices stay where they are or go lower...There will be drastic action...If it goes higher due to some other event...they will do nothing and the increase will be temporary! But i will tell you people something..I prefer to be long an Industry that is in the "pits" than one that is overbought like semi's and Internet, where the risk to the downside is greater!

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