Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (53681)	10/28/1999 5:29:00 PM
From: Crimson Ghost	Read Replies (4) \| Respond to of 95453

Slider: Growing doubts about OPEC compliance the main reason for today's plunge in crude prices. bloomberg.com

To: SliderOnTheBlack who wrote (53681)	10/28/1999 8:00:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Slider.... thomsoninvest.net HAL -- Oil & Gas-Equip. -- Basic Materials 28-Oct-99 15:14:57 Oil driller stocks have hit a slippery patch today, as the price of crude oil continues to slide lower. Halliburton has lost $1/8 to trade at $36 7/8 on active volume. Concerns that crude oil prices may not be able to hold onto recent gains continue to plague oil-related issues, exacerbated by rumors that OPEC members may be cheating— supplying more oil than their quotas allow— at these higher prices. Halliburton is also suffering as investors shed shares following the firm's 4Q earnings shortfall announcement. Value-oriented investors, attracted to the stock's relative poor performance, are behind the bulk of today's volume. Over 60% of the day's activity can be traced to block trades, further confirming a heightened participation from the institutional side. While the sellers have successfully pulled the stock back into the red, I-Watch's post trade data reveals buyers are initiating the majority of the reported trades; brokers have claimed 844k shares in buy transactions versus 520k in sell transactions. Why then is the stock down? A glance at the pre market suggests bidders are looking to buy shares on the dips, or bottom fishing, rather than aggressively purchasing shares.