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Strategies & Market Trends : Asia Forum

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To: Zeev Hed who wrote (8383)	3/22/1999 4:15:00 AM
From: Stitch	Read Replies (1) of 9980

Zeev, <<Right now, I think that the big crude companies are going to hold to some of their gains, the smaller P&E are probably going to give it all back and the secondary service providers will as well. >> I could not agree more and so does my favorite oil service newsletter: "Wall Street seems to be rediscovering the oil service sector stocks, both as a momentum play and as a value play. But keep in mind that while oil prices have moved back to October 1998 levels, the oil service stock prices have not regained that lost ground. The market is clearly discounting the fact of the lag time between higher oil prices and better fundamentals (day rates) for the sector. Those interested in the patch can check the following out for a full read of the latest newsletter and a free subscription. loosbrock.com Obviously an appearance of agreement among OPEC producers isn't a sustainable trend indicating a rally in oil consumption. I also agree that we will see a sustainable rally in oil in parallel to a sustainable recovery in Asia. It is still a good time to accumulate and hold these issues IMO unless you fancy that you are extremely adept at timing. Best, Stitch

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