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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Techfan who wrote (46183)	6/9/1999 4:07:00 PM
From: John Doyle	Read Replies (1) \| Respond to of 95453

To All: Where is Slider???

To: Techfan who wrote (46183)	6/9/1999 4:55:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

...not funny - ie: Joliet ...on a quite unrelated matter - I was in Joliet recently...but, not enhancing my investments (VBG) . ...busy as hell - while we waffle in the ''deadzone''.... not a whole lotta shaking going on.... not trading much - like Nat Gas small Cap - CRK here as good as anything - in a holding pattern here. I am in the stocks I want to be in - and at prices I like. ...what's the song say ? - gotta know when to hold, when to fold, when to walk away etc. - I say it's time to hold - maybe catch a siesta - go on vacation etc.... OPEC's compliance #'s spurring a new surge in crude prices will be the only catalyst to anything big happening anytime soon imho.... no fundamentals here to drive us higher quickly... rig counts, dayrates, cap ex spending , back logs - all soft... we are living on the expectations of what rising crude prices (decreasing supply) will bring... sector rotation from the overall market into the Oilpatch may give us a small jolt if something very negative happens there - but I am basically taking a snooze here... I will remain a lurker for a while ( very busy) - only special trading opps and waiting untill we see that sub 320M boe in storage and 130+ rigs working in the GOM - trending toward 150.... then we go to the ''moon'' (OSX 120 +) again.... Have to think with good OPEC numbers and a good reaction in crude prices that we test OSX 90 in a boring fashion soon... need the above fundamentals (sub 320 M boe in storage & 130+ GOM rigs at work) and additional Cap Ex spending to break out over OSX 100 imho... We have no real downside danger - the downside imho is a waffling move testing 90 - bouncing off 70; then as the rig count improves and storage gets drawn down this fall - testing 100 - bouncing off 80 etc... Looks like it may be untill mid 2000 for the real fundamentals to change. The Oil majors just aint spending the $ folks - now the talk is 2001 untill we see 1997-8 like fundamentals as far as Cap Ex spending, rig counts-dayrates and backlogs for the const/fab co's... may be a longer wait for nirvanna than we all thought... ? Allthough, the ride here and the individual trades were nice... .... only time will tell. Good time to be a stockpicker - ala~ buying the out of favor stocks here ie: RIG vs. say PTEN UTI - and jackup drillers who have all of the nearterm expectations priced in here imho - buy RIG DO here on dips.... PGO and still nat gas stocks & E&P's. - MRO OEI UPR XTO CRK HSE RRC - my picks here. good luck all...