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

To: upanddown who wrote (48636)	7/30/1999 11:39:00 AM
From: IndioBlues	Read Replies (1) \| Respond to of 95453

I hear you, John. I'm just nervous about the run up based upon layered assumptions. I've been wrong before and may well be wrong now but I still think we re-trace before we move into a sustained rally northward. HAL, SII, SLB, are fueling the move this morning, but the size of the trades (smallish) does not inspire confidence from where I sit. Good Luck to you.

To: upanddown who wrote (48636)	7/30/1999 12:32:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

JohnClarke; good perspective - April 98 OSX @ 120 w/ $14 Oil ...etc. We were potentially entering a deadzone vacumn of good news, or improving fundamentals in the OSX here in my thinking - with poor earnings, still slow moving rig utilization #'s - dayrates & new equip orders. Only the price of Crude was fueling our run of late. But; now that we are seeing some changes in sentiment in the overall market - the spotlight once again has turned to Energy & the 'patch... Rotation is the keyword here - and if we breakout through the prior resistance level - then all those ''Techies'' will start the mo-mo train here... and it's a whole new ballgame imho. My main mantra has been that the E&P's are really offering the best of both worlds here - with the OSX -driller/service stocks just not getting the fundamental benefits yet of this run of product prices. The nice thing is that there are no losers here - just a matter of picking the best of the best - winners.... rotation into the subsectors that will get the most dramatic appreciation and taking advantage of some individual trading opps has been very lucrative of late... The Street tried to spin everything negatively here a week, or so ago - now that seems to be changing once again... the technical breakout here is very, very importatnt... RRC hit $6 today - up 10% in a couple days, CRK still moving on up - now up 25% since 7/21and MEXP breaks out over $3 now up 15% in days - and here comes $4 ?!?!? HSE still the sleeper - now up 14% since 7/21 .... E&P small/mid caps still have lots of room to run on their actual fundamentals... and $ 3 nat gas looks within reason here. I still have to stay 100% invested in the E&P's vs. driller/service stocks personally - just my opinion. I see 30-50% runs in all of the above by XMAS... I don't know if the OSX can breakout over 100 by year end ??? - allthough, with John's perspective - the price of Oil and the reasonable expectations of what early 2000 rig utilizations & dayrates should bring - could technically support a run through OSX 120 if we see continued overall market weakness AND if OPEC keeps doing their job. So - maybe we all catch the Big Kahuna here... lots of ''waves'' to ride here in the Energy World. Good Luck - the sweet smell of $$$$$$$ is in the air once again...