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

To: Richard D who wrote (52455)	10/5/1999 3:17:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Crude Price vs. OSX price = historic anomaly buying opp... Throw the demand side of the crude price equation out the window... whatever you want it to be - let it be. Realistically; it's a small upside rise; potentially - a substantial upside surprise in Asian demand; worst case: = no change.... Supply: - this is a supply driven equation right now. The API's are trending strongly down in supply draws and we are not as yet in heating season. For us to be knocking on the door to 300M boe in domestic storage and have OSX 68 - is incredulous !!!! That 300 M boe break will get major, major attention. This is not just leading to sustained $20-22 Crude; it's leading to a supply driven "BUBBLE" of $28-30 imho. We will sustain $22+ for at least 2-3qtrs imho and ONLY a break in OPEC compliance can change that. This is a "historic" buying opportunity; mark those calendars - this one will stand the test of time. We are at the same damn levels in many, many stocks that we had during $10-$12 crude oil... sheer insanity. There are simply few Institutional managers who understand the Oilpatch - that is now a given... The E&P's with the quarterlies that they are going to release shortly are gifts on this retrace here - G I F T S . EVER - off 10% today...? APC - at January 1999 levels ? BR - giving back nearly all of this years gains ? C'Mon... Happy to be where I am; this is allmost beyond labeling imho.... BLACK OCTOBER - strikes again... O/T Richard... I hear you... you aren't underwater. Bought UTI for better balance sheet and a slightly bigger selloff. I like PTEN very much... RGO is a gift for a longterm holder here... HAL - this is the posterchild for the "general" fund manager... not having a damn clue - either when they were buying through $50; or selling in the mid $30's - either way... simply clueless... someone - anyone; give me $1Billion for a hedge fund - and in 24 mos. - we rule the world ! .... and I'm serious (VBG) ~