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

To: Timelord who wrote (47322)	7/3/1999 3:36:00 PM
From: pz	Read Replies (1) \| Respond to of 95453

Timelord, I admit that I held the drillers during the collapse hoping and hoping that they'd bottom even though I was seeing oil prices steadily fall and rigs continuously stacked. It was extremely painful financially to do that. I've learned from that HUGE mistake and when I see rigs being stacked and dayrates fall, I'll be one of the first to bail from this sector and will go back to work flipping burgers at McDonalds...ggg. But I'm seeing just the opposite now. Oil prices are rising (so is my royalty check), and rigs are going back to work, at least this is what I see locally. I see this as pretty dang bullish. We just put together a multi-well prospect that would have been impossible at oil prices a few months ago. So yes things are turning. Whether you short term trade this sector or not, as most of us do, the trend is undeniably up at this point. The trend is your friend and the trend is up. Paul