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

To: JoeDi1213 who wrote (49876)	8/25/1999 9:33:00 PM
From: A. Geiche	Read Replies (1) \| Respond to of 95453

Joe, the changes of market direction (just like it is with hurricanes) never ceased to amaze me. With the hurricanes, I know, it is prayers, but with the market... are you telling us it is just a sort of a computer conspiracy? What I am trying to understand, for a computer to trigger say a sell of FLC at certain specific circumstances, the damned thing has to be programmed to act so. Those who program the computers to act so have to be not only perfectly well aware of these circumstances but be in perfect accord with each other as well(without even knowing their co-conspirators), if their computers work in such unison. Then isn't this mean that they are actually aware (or can be aware)of future moves of the market, or, at least, its next move, also? At least to such extent that to be always ahead of the curve? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Meanwhile, in the aftermarket trading, the crude is unchanged, the heating oil is up .15, the unleaded up .01, and NG is down .02. ag

To: JoeDi1213 who wrote (49876)	8/26/1999 2:25:00 AM
From: SliderOnTheBlack	Respond to of 95453

Nat Gas..ie:< operations in the east because that is where the tightness is> Amen; RRC is Apalachia - east coast dominant; the JV with First Energy is to capitalize on their synergies in becoming the dominant player in East Coast NG. RRC drops $100 M off the debt side in the JV agreement, the JV is immediately accretive to earnings, First Energy has 350 people in their marketing dept - focusing on ''capturing value each step of the way from the wellhead to the burner tip to the end user''. A major point from Deutsche Bank analysts was this would allow Range to get higher netbacks for its gas production in the region. The addition to NG supplies was 50% less than last year - same week ! There are simply NOT enough rigs drilling for Nat Gas for us to not remain in a bullish nat gas price environment supply-wise- and with the realistic possibility on the East Coast to enter into a ''rationing by price'' environment in nat gas this winter... quote.bloomberg.com ***Wholesale prices already are 65 percent higher than a year ago amid expectations of tightening supplies, and they could get even higher, industry analysts say. Retail prices won't rise as much, because the price of gas represents only a part of the cost of delivering the fuel to consumers. ''New wells coming on line aren't keeping pace with the number of old wells that are depleting and being abandoned,'' said Ron Barone, managing director of natural gas research at PaineWebber Inc. in New York. The most recent data published by the Energy Information Administration showed the nation's natural gas reserves at the end of 1997 were the equivalent of just 8.4 years of demand, the lowest since the 1950s, Barone said. .... GO GAS !!! & stay small...cap that is.

To: JoeDi1213 who wrote (49876)	8/26/1999 5:30:00 AM
From: Roebear	Read Replies (1) \| Respond to of 95453

Joe, Thanks, that was the perspective I was looking for and especially with your concise look at the futures setup. As for the technical side of it, it was interesting that the OSX closed today right on the roof line of its ascending triangle around 82.72, if it holds/bounces there, excellent. If not it should hold at the 50 day MA of 80 5/8. If it falls through that level it had better be in the nature of a spike, hopefully forming a hammer or at least a reverse hammer or the bull run in oil prices is technically in for a short term breather at least. (All IMVHO of course) And I'll be back to reading the weather long term tea leaves...VBG. The fundamentals however, as you note, are intact. Perhaps this was all an excuse to run the stops, a favorite MM and Specialist activity. It will be interesting to see the TA over the next few days. Best Regards, Roebear