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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Fun-da-Mental#1 who wrote (22618)	8/10/1999 4:16:00 PM
From: j g cordes	Read Replies (1) \| Respond to of 99985

FdM.. thanks for the reply. I went long drillers this year within a few days of the lows.. never thought they'd rally this high however, so I bailed in July. Now I feel they're overbought and running on momentum expectations. The management of prices via OPEC and some supply drag from rig shut downs is speculating the price higher, I don't think demand has jumped that much, yet the oil community seems to be of one mind that its better to sell 100 barrels at 20 than 200 at 10 so if things level here I'd expect to see cheating come back into the picture and drop prices back to 16.50.. Could be wrong of course..