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Non-Tech : Invest / LTD
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To: Thean who wrote (7751)3/12/1999 7:14:00 PM
From: JHR  Read Replies (1) of 14427
 
It will be an interesting week coming up. Some on the driller's board are saying if OSX takes out 63 next resistance is in the low 70's. What do you see for that index.

I'm out of town all next week so I'm back to using a phone with Fidelity and Etrade. I only have one March option and have just put in a sell on it so its just a matter of not getting hurt on some further out options. Triple witching on Friday so it may be a screwy week anyways.

Finally the production cuts are good but if demand doesn't improve we're just going to be treading water. I dont see the E&p companies jumping at this to increase exploration budgets unless oil will get back to $18 or so. I dont think this cut alone can do that. However logic hasn't been the ruling force in this sector for a while now. If cap spending doesn't improve the drillers still are hurting. What $15 oil will do I would think is prevent any more cap expenditure cuts.

But what the hell do I know.
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