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

To: Crimson Ghost who wrote (55365)	11/24/1999 1:03:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

OEI; volume diminishing; Bollinger Bands tight here... It will not be long... with volume diminishing; we break one way or the other very quickly here imho. I'll sit at $7 7/16ths for my next buy; allthough I expect we turn & run upward as the volume selling seems to have subsided and $7 15/16ths is holding pretty solid through some heavy volume here of late. PS SSB has an interesting report that E&P's are dramatically ramping up 2000 cap ex spending over 1999; I believe by 20% on the average... this bodes well not only for the driller/service stocks - but more importantly for the E&P's themselves. Increased production at these prices will flow substantial cash to the bottomline - these valuations are nearly ridiculous given crude prices and their planned cap ex budgets ...