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

To: BigBull who wrote (46840)	6/24/1999 3:20:00 AM
From: Brent Hogenson	Read Replies (1) \| Respond to of 95453

Bigbull - I look at the chart and see higher lows and higher highs. I do see that we had two successive lower peaks for each higher peak but I don't believe that means it will continue. I also see we have been in a trading range between 68 to 82 for the last two months. A lot of static (api reports, contract cancellations, opec press releases) have been driving us up and down. One day it will break out of this trading range. I believe the "glut" (if there ever was one) will disappear within the next six months. Oil is trading near the high end of its trading range. I can only conclude that the OSX break out will be on the upside. There has been a lot of talk that these stocks need to start showing better earnings before we see valuations go higher. When these stocks were tanking last year at this time they were releasing record earnings (the bad earnings were 6 months away), so how can people make that conclusion. I think July will be the month the inventory numbers will clearly show the OPEC cuts not to mention non-OPEC production is dropping daily. This along with your weekly postings showing the economies across the world are improving makes me wonder what you are thinking. I know that it is easy to have doubts when you see your stocks drop. Take a step back and take in the whole picture. Why worry about this week to week stuff? I want to be happy in December. Sure it would be nice to be happy in July, but I wouldn't sell if I was so why worry about it. Don't go chasing pennies and miss the dollars.