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

To: oilbabe who wrote (53190)	10/19/1999 8:44:00 AM
From: articwarrior	Read Replies (1) \| Respond to of 95453

Does anyone know what time the CPI results will be released? Arctic

To: oilbabe who wrote (53190)	10/19/1999 10:19:00 AM
From: SliderOnTheBlack	Respond to of 95453

To Buy, or not to Buy ? He who hesitates is lost... With the reaction to the CPI's; We just eliminated the possibility of a DOW meltdown. That is a substantial factor and was a roadblock to buying here. The OSX will get sector rotation in a slowing declining & shifting DOW; it would not have in a meltdown. This is good news for the Oilpatch. OPEC sounding like they will continue to toe the line here folks - per the recent comments; despite all the spin doctoring. If not this week, in the next few weeks; we'll get another 3,4,5 + M boe drawdown. As long as OPEC compliance reamins "ANYTHING" near present levels - the fundamentals of supply & demand are leading to a crude price bubble imho. I see no test of $18 possible. OPEC is finally playing smart. Once again; they can not ease here; if they do = instantaneously; a blow off to $17-18 Brent. IF they don't = Crude price bubble ($30ish) to where the Worlds leaders will be on their knees begging OPEC to ease... only in that scenario can OPEC,or will OPEC; ease... That is the only way that prices can stabilize lower. Even with a DOW bottoming lower - say 9500; that will lead to a massive rotation to the oilpatch. Prices here are simply too cheap in many, many issues. HAL PGO SII CAM FLC - choose your favorites and load up here. There is nothing fundamental to bring prices substantially lower. Perhaps we could sell off to a new low in this leg; perhaps OSX 63ish. Big deal. 10% downside to an easy 30% upside just to prior resistance ! I know this is a reasonable bottom price to fundamentalwise. It will be too easy to miss these when they turn and run. The E&P's here have fundamentals right now into this earnings release; to where they are going to turn and not look back. The E&P's are the fundamental play; but, the real quick MO-MO moves will come from the SII CAM WFT's of the OSX. There are lots of manipulative forces that would love to keep us down here through month end. I would not hesitate in building positions here. Bottomline; 10% downside to a near assured 30% upside. That 3:1 ratio looks pretty good to me; given the expectations fundamentally for the next few quarters - again; especially in the E&P's. I know this is the first time that FLC MRL SII & other fav's have actually looked cheap to me. I am not hesitating... buying today while they are still cheap. I may get taken down 10% later; but - it will be too easy to miss the turn & run. I love these prices here; I'm in - knowing I own SII sub $35 !!! - with a recent high over $50 ? I'll dig in and take my swings right here...so what if it see's $32 - no big deal, even $30 - no big deal; because I "KNOW" it will see $50 again. Shorts should make a final push here... as that disapates and as funds flow back into mutual funds; we'll move very, very quickly here when it begins. Save a bit of cash for any anomalies that surface - but be near fully "in" here imho... Don't "miss" the boat... "load" it.