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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (45477)5/26/1999 11:17:00 AM
From: BigBull  Read Replies (2) of 95453
 
George, if it's any comfort to you, the OEX volume in puts is now running over 4 to 1 puts to calls for June near the money contracts. this is pretty bullish for the near term, as it indicates that many expect the stock market to just fall to pieces here. I'm not saying the market go straight up from here, just that we should get a good bounce sometime in the near future.

The world wide indicies have been in a corrective mode for the last three weeks but are now coming into some strong technical support areas were I believe they will hold and make a bottom for the next major advance. To me this is all very healthy and necessary for the worldwide bull to continue. IMO we should have a real good summer rally starting some time in late to middle June. JMVVHO

If the Saudi's make good on their call for 18 - 20 BRENT by the end of June the OSX should do VERY well. At this point, I say, one has to give them the benefit of the doubt, considering that they have engineered the recent rise in oil prices and fought off the currency speculators. This was not an easy thing to do. What do you think the Saudi's plan to do at this point to get that oil price up? Target all new cuts at Europe, and US?

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