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

To: SliderOnTheBlack who wrote (55047)	11/19/1999 10:05:00 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

Before we call this "pullback" officially, I would keep an eye on the industry leader, SLB. If SLB takes out 70 solidly, look out above! I'm not sure we are going to see a huge pullback. Nothing too significant if oil prices stay at or above $26/bbl. As someone mentioned in a previous post, Oct oil averaged in the $24 range and that is EXTREMELY bullish any way you slice it. I'll stick my neck out and go on record that this isn't a top unless you can have a top one day and a bottom the next <vbg>. I think the entire sector is going to keep moving north for the next couple of weeks and possibly through the end of the year. FWIW, I don't think there should be talk of rig parties until the OSX is solidly over 100. Then the talk would be justified. Won't be too long if you ask me. Just my opinion.....we will see, Michael