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.
Non-Tech : Invest / LTD
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Peter V who wrote (6843)1/26/1999 9:55:00 PM
From: Thean  Read Replies (2) of 14427
 
Pete,
If RIG gets to 24-25 and stabilizes there somewhere intraday tomorrow, oil price either stabilizes or slowly trends up, and the overall market is in good shape (meaning neutral to up), I think taking a position going long for short term trades (holding period no more than 2 wks) is a pretty good risk/reward. The API number was bad. So if RIG and other top drillers like DO and NE can stabilize and find buyers tomorrow, I would be encouraged. If we get another whole-sale selloff tomorrow like in today, I would keep my fingers as far away from the long side as possible. One can argue today was a sell in anticipation of bad API numbers. Tomorrow may be a bottom fishing opportunity. On the other hand, and we have seen this plenty of time in the year past, one day poor showing merely becomes the preview of many to come. The key is oil price.
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