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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: A. Geiche who wrote (37251)2/10/1999 8:07:00 PM
From: BigBull  Read Replies (2) of 95453
 
AGeiche: Most likely you were WRONG about GLBL. It was .13 and not .11 and their African business is doing quite well, thank you very much. Weren't the analysts you cited in the Bloomberg DOE article all looking for large increases in crude inventory of 3 - 5 mill barrels? Even with the DOE increase of 600,000 the analysts clearly have egg all over their faces. No wonder they don't like the API number, they are probably all short based upon their erroneous and terribly flawed analyses. At major market inflections the consensus is WRONG. These analysts have been consistently wrong about the API numbers. They keep getting surprised, no wonder they minimize them. After all, they have to spin, spin, spin to protect their short clients and their reputations. But they love to bash oil when the API number give support to their "Idee Fixe" about the glut, the glut, the glut.

Have a wonderful evening.
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