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: James Cherney who wrote (40015)	3/15/1999 4:10:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

An emotional letdown after a weekend break... Amazing that nothing of substance has changed as far as the OPEC agreement, or Crude prices. We had an adrenalin driven 5 day ride. I think the 2 day break let emotions return to earth and then the Spin control like this article below took over: <<We are talking OPEC here; it could unravel at any time,'' said Dominick Caglioti, a broker at ABN Amro Energex in New York. ''We rushed up last week and we may or may not belong up here this high.''>> It could unravel at any time ? We shall see... Wouldn't you think they would take a show me attitude and not run it up untill things looked firm ? - No - they run it up - then wonder if things are firm - go figure ? --- if this is how the Street thinks; it is the textbook endorsement for buying the rumor and selling the news... only on Wall St. I don't think that a selloff will continue, unless we see specific negative OPEC Agreement news, or if crude prices selloff materially... Actually surprised by todays action. I could see mixed performance - but didn't expect an accross the board selloff... CNBC just talked about ''Gunning the Stops'' in the metals market - obviously we saw our share here today... WFT & CAM - 2 Street favs had interesting intra -day swings. Strong shorting and now covering - big, big swing in CAM - i do like that; WFT closing up & CAM up near $2 from its low. E&P's generally more mixed fwiw... Tomorrow will be interesting... I did trim some PDE & FLC at small losses - rotated into SDC; I'll ride my gains with Sante Fe from here. These high leverage companies fly on the way up and fall just as fast. I think FLC, PDE are ideal stocks for the intial mo-mo moves, but need to be the first to be sold on ANY hint of weakness. Keeping a small postion in the longterm drawer and forgetting about these two for a while... Gifi getting bought back up above $9- gotta think that news will leak on Petronius soon. Time to call their supplier, or go to the yards to find out if ''someone'' is shipping an order to GIFI - where's a scout when we need 'em.....Sarge - how far a drive to Houma La. ? a mission for an Intel man if I ever saw one.... tell me those guys in the yard don't know ... box of donuts, some hot coffee ... Anyone a strong buyer tomorrow a.m. if we get a shakeout attempt at the open ?

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