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: The Ox who wrote (38918)	3/4/1999 3:50:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

Ps Michael; <<The last time we saw oil prices shoot up, you were the first to declare that the long awaited reversal was here. Unfortunately you were dead wrong, as oil immediately dropped back from $12.80 or so and fell back below $12 very quickly. After that reversal, many of the OS stocks made new lows. Not all, but many. >> I was ''deadwrong'' ? - trying a little too hard there aren't you Mickey ? Where was I deadwrong ? I haven't been trading Crude Oil futures ? What are you talking about in $12.80 crude to $12.00 ? I've sold about 9 different stocks profitably here today. I am ''only'' selling because I read this as primarially short covering and I do not expect to see 3-4 days at this pace; I'll re-buy asap on a dip below my sells here... The shorts will be fierce into the OPEC meeeting - they want the lid on this; as THEY see a clear reversal, just as I do... Listen to the news on CNBC today ? Many others have seen a reversal too. I think Alan Greenspan saw one as well. As did Abbey J-Cohen about 6 weeks ago as well.... <<Now, we have a couple day rally in oil prices partially fueled by Greenspan's comments and you are ready to say that all who are cautious short term are full of "negativity". So be it. Your rose coloured blinders are obvious>> Michael I never criticize anyone who is ''cautiously optimistic'' - you are a ''fair weathered friend'' who got called on the carpet -and didn't like it... Where in your posts that I just logged - were you ''cautiously'' optimistic ? You were a ''sky is falling'' BEAR if there ever was one ? - The ''Poster Child'' for Nattering Naybobs of Negativity ! Was the the 5 year insult - cautiously optimistic ? Were your other gloom & doom posts ''cautiously optimistic'' ? I've bought into the selloffs and have done pretty well; only VTS & RIG owned at any meaningfull level above here... and RIG could be there in a day. I do think we have reversed, but I will keep taking profits - once again not being greedy, but trying to scalp the 2/3rds middle of a move as we fight in a stair step fashion upward. But, Michael - I don't see NOESIS's $8 oil here; con't see $10 NYMEX, or $8 Brent - also don't see sub 45 OSX - so how do you not see a reversal ? - sorry; a rhetorical question; you couldn't see a reversal unless it was an Internet-type spike <VBG> sorry; I forgot you guys from Invest LTD - don't look forward for your ''reversal'' indicators; they have to be right directly in front of your nose like the last 2 days <VBG>.... Here the last 2 days; we see lots of recent short covering (because of the supply reduction trend that I pointed out weeks ago) - I think in 2 days we've just come too far & too fast; I think I can re-buy cheaper in a few days; and if not - I am still holding a substantial position to ride through the OPEC meeting... yes; Mikey-boy I take proifits as the shorts cover and the fair-weather wind blowers buy.... but what I do is insignificant; I just enjoy seeing the wind blow... PS; out of curiosity - As we have ''NOT'' penetrated a new OSX low - how do you think we haven't established a reversal ? Either Crude Price-wise, or OSX-wise... <<Let me ask you a simple question. Why would I invest in a sector if I didn't think that "Our day will come"???? Simple question with a simple answer.>> Mickey-boy; that isn't the question; the question is - why do you try to spin reality so hard ? 7 days ago you could NOT have been more BEARISH and preached total gloom & doom. But now you want to shed those clothes that you so publically wore - that I just want to point out reality.... and your complete and total - ''Johnny come lately Status'' ... A reversal - yes; and also a cherry picking-candy from a baby taking trading range ! And those just like you - ''got my candy'' ....and I just took it again <VBG>...

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