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

To: BigBull who wrote (53598)	10/26/1999 5:41:00 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

BigBull, I have GLBL as long term shares. I'd like to buy more of everything, but I'm waiting for the market to confirm that they're ready to reward such purchases. Other than the seismic and fab co's there isn't too much out there in the oil/gas sector that doesn't look good. Hoping for OEI to crash to 8 and PXD to 9. Just enough to buy some cheap calls but not too much to cripple the stocks technically.

To: BigBull who wrote (53598)	10/27/1999 9:02:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

To me, the following data is far more relevant to the price of oil than is weather. Industrial and consumer demand for energy WILL rise substantially in the upcoming quarters throughout Europe. This is why I ain't sellin' OSX 65 or not. I'll be so glad to see the back end of Oct stupid season I could sp_t! UK: news.bbc.co.uk Europe: Top Financial News Wed, 27 Oct 1999, 8:43am EDT Euro-11 M3 Money Supply Expands Greater-Than-Expected 6.1% in September By Sonja Dieckhoefer and Hellmuth Tromm European Economies: M3 Growth Accelerates in Euro-11 (Update1) (Adds commentary, details on bond market.) Frankfurt, Oct. 27 (Bloomberg) -- Money supply growth in the 11 nations sharing the euro accelerated in September, fueling expectations the European Central Bank will raise interest rates in coming weeks. M3, the central bank's main yardstick of future inflation, accelerated to an annual rate of 6.1 percent last month from 5.7 percent in August, the bank said. ECB officials have warned that faster money supply growth will spur inflation, currently at a 1.2 percent annual rate -- up from 0.8 percent in January. After this report, ``it's extremely likely the ECB will raise rates next week,' said Otmar Lang, senior economist at Deutsche Bank AG in Frankfurt. European Central Bank President Wim Duisenberg set the stage yesterday for an increase in the bank's 2.5 percent benchmark rate, saying higher rates would help put a lid on inflation rather than sap a rebound in the region's economies. Investors agreed, sending bond prices higher. The benchmark German 10-year government bond rose enough to push yields down 6 basis points to 5.35 percent. The euro rose on prospects higher deposit rates would increase the currency's attractiveness compared with the dollar. Investors' reaction may signal rising confidence in the ECB's handling of monetary policy, after the euro's slide of as much as 13 percent earlier this year. `Vigilance' ECB officials watch money supply growth to gauge the danger that inflation will rise in the future, on the expectation that too much cash chasing too few goods will drive prices higher. The bank's target for M3 money supply growth, 4.5 percent, has been surpassed every month this year. The ECB will revise this target at the end of the year. In its latest monthly report, the ECB said brisk money supply and credit growth in the region ``call for great vigilance on the part of monetary policy at a time of accelerating economic activity.' Recent evidence from across the euro region indicates that factory orders, exports and industrial output is rebounding. Speaking to the European Parliament yesterday, Duisenberg said that the best way the bank can ensure growth is to fight inflation, and that rate increase ``may be more akin to lifting the foot from the pedal than braking the momentum of the economy,' Duisenberg said. The ECB said the three-month M3 money supply average rose at an annual rate of 5.9 percent in September, compared with an annual rate of 5.6 percent in August. Bank lending to companies and private households rose at an annual rate of 10.5 percent in September, after rising at a revised 10.8 percent rate in August. Overall credit lending rose at an annual rate of 7.9 percent in September, the same pace as in August. The August figure was revised up from 7.8 percent. Long-term financial liabilities -- investment in longer- term securities or savings accounts that take money out of M3 -- rose at an annual rate of 5.6 percent in September from 5.7 percent in August. The August figure was revised down from 5.8 percent. The money supply figure measures overnight deposits, deposits with an agreed maturity of up to two years, deposits redeemable at notice for up to three months, repurchase agreements, debt securities with a maturity of no more than two years and money market funds. ¸1999 Bloomberg L.P. All rights reserved. bloomberg.com