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: Gary Burton who wrote (44726)	5/14/1999 9:20:00 AM
From: SliderOnTheBlack	Read Replies (3) of 95453

RIG/ ...+ record European Auto Sales..inflation - Cmon rear your ugly head ! Gary; I agree that the softness here in RIG is allready known news and reflected in the stock; but - this scenario has still led to selloffs in a ''weak/waffling'' environment. If RIG holds well, or more importantly - rebounds strongly from an intial selloff - I think it is not to be ignored. Conversely; if RIG sells off and stays sold off - NOT good news; as ''we'' know this was allready known - news.... BULL - ''Mr. International News''....(well deserved/earned moniker - by the way) ...Brazil strong; Korea an incredible story and now record European Auto sales.... Bond 5.87 - approaching 6% !!! There are a whole lotta Traders/Fund Managers who now need to make a decision on this cyclical rotation move. They know the Oilpatch will ultimately have huge upside; the only real downside is deadmoney for a while if Crude trades in a range of $15-19... do they bet on the Fed not tightening, bet against inflation, against Global demand/recovery ? .... not a bet I'd want to make. This inflationary news, spurring further cyclical rotation potentially - may be just what we need in this ''deadzone'' of fundamental news/events to keep us propped up and moving up - untill fundamentals of rig utilization, dayrates and earnings actually show improvement.

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