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: Crimson Ghost who wrote (38609)	3/1/1999 3:06:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

George; Big Boys knowing OPEC outcome... If there ''EVER" is a time to go against the tape - it will be going into the OPEC meeting - 110% for sure ! ...just watch ! The Street has virtually zero positive expectation on OPEC doing anything positive. The Street will short the hell out of this sector into the OPEC meeting (mutual Funds will trim holdings as the end of Q1 Window Dressing is prudent) to shake out the weak and to guarantee they can get in ''cheap'' on a - ''turn on a dime'' type of positive news. This is the ''only'' way the Street (Big Boys) can possibly play this - the ONLY way ! Just like the iNets - when they start to miss the boat, or don't want to accept the risk - the play in concert...to guarantee that they can buy ''right''. The Street can NOT allow a run up prior to the OPEC meeting; if we had 2-3 weeks of positive API/EIA news and then good OPEC news - they would be SOL & miss the move entirely. We could be OSX 66 virtually overnight if we get 2-3 weeks of decent API/EIA #'s and then OPEC announces new cuts... I will get nervous if we run up prior to the meeting - fwiw. Buy the dips.

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